Stock Name: CapitaMall
Company Name: CAPITAMALL TRUST
Research House: Daiwa
“We believe CapitaMall Trust is a more compelling investment now given the better earnings visibility and stronger distribution per unit growth,” said Daiwa in a report.
Company Name: CAPITAMALL TRUST
Research House: Daiwa
Daiwa has upgraded its rating for Singapore’s CapitaMall Trust (CMLT.SI), which owns shopping malls, to outperform from underperform and raised its target price to $1.97 from $1.83.
Daiwa said CapitaMall Trust’s acquisition of Singapore shopping mall Iluma has boosted its earnings visibility.
Daiwa said CapitaMall Trust’s acquisition of Singapore shopping mall Iluma has boosted its earnings visibility.
“We believe CapitaMall Trust is a more compelling investment now given the better earnings visibility and stronger distribution per unit growth,” said Daiwa in a report.
Asset enhancements of two of CapitaMall Trust’s properties are also expected to contribute to its earnings from 2012 onwards.
Daiwa has raised its distribution per unit forecasts by 3.8% in 2012 and by 3.7% in 2013.
At 9:19 a.m, CapitaMall Trust were traded 1.7% higher at $1.83, but have fallen 6.2% since the start of the year.
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