Stock Name: Capitaland
Company Name: CAPITALAND LIMITED
Research House: CLSA
Company Name: CAPITALAND LIMITED
Research House: CLSA
CLSA downgrades CapitaLand (C31.SG) to Outperform from Buy on reduced upside to its $4.65 target price following recent run-up. But remains upbeat on developer’s prospects, noting plan worth up to $500 million to build affordable homes in China, Vietnam, says Dow Jones.
CLSA says: “We are incrementally more enthused by the residential segment’s potential.” Says 2Q10 results better than expected, but tips lower margins in 2H10 as revenue recognition of high margin-yielding residential sales will slow.
Shares +1.0% at $4.13; STI +0.2%.
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