Stock Name: CapMallsAsia
Company Name: CAPITAMALLS ASIA LIMITED
Research House: Daiwa
The house says that seven malls in total should have been completed in 2010, according to the company’s guidance, including three malls in China and one mall in India in the fourth quarter.
“We believe CapitaMalls Asia is positioned to make further acquisitions in markets where there is competitive bidding (mainly in Singapore) and especially in markets which could see investor sentiment weaken in the future (primarily China).”
The house expects the mall developer to report a net profit of $567 million on Feb. 17. CapitaMalls Asia is flat at $2.00.
Company Name: CAPITAMALLS ASIA LIMITED
Research House: Daiwa
Daiwa Capital Markets keeps its Outperform rating on CapitaMalls Asia (JS8.SG) with an unchanged $2.65 target, as the company builds new properties, and as the house believes the markets have priced in China’s recent curbs on property speculation.
The house says that seven malls in total should have been completed in 2010, according to the company’s guidance, including three malls in China and one mall in India in the fourth quarter.
“We believe CapitaMalls Asia is positioned to make further acquisitions in markets where there is competitive bidding (mainly in Singapore) and especially in markets which could see investor sentiment weaken in the future (primarily China).”
The house expects the mall developer to report a net profit of $567 million on Feb. 17. CapitaMalls Asia is flat at $2.00.
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