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Far East Hospitality Trust (FEHT SP) Silver Linings Despite The Resurgence With New Variants
The increase in infections due to the new variants of COVID-19 has resulted in increased demand from the government for SHN facilities and public hospitals for accommodation for healthcare workers. However, the recovery in tourism and inbound travellers is now postponed to 2H22. FEHT is the most defensive hospitality REIT and is well positioned to weather a prolonged downturn due to downside protection from the high fixed rent component from its master leases. Maintain BUY. Target price: S$0.71.
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Boustead Projects Limited Charting the next leg of growth
■ With the completion of its asset sale to BIF, Boustead Projects reported a net profit of S$131.7m for FY21. Special dividend brings total DPS to 15.4 Scts. ■ Core business remains impacted by Covid-19, but with successful capital recycling, BP now has a strong war chest to chart its next leg of growth. ■ BP is attractively valued, with net cash of S$0.95/share (86% of market cap), while holding stakes in properties worth S$700m. Reiterate Add, S$1.40 TP.
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Check out our compilation of Target Prices
