Stock Name: KepLand
Company Name: KEPPEL LAND LIMITED
Research House: CIMB
“Its stock underperformance serves to reinforce our positive view. We continue to expect price catalysts from rising China township prices and Singapore office rents,” said CIMB in a report.
Company Name: KEPPEL LAND LIMITED
Research House: CIMB
CIMB Research has raised its target price for Singapore property developer Keppel Land (KLAN.SI) to $5.36 from $5.29 and kept its outperform rating.
CIMB Research said it expects Keppel Land to weather China’s property cooling measures relatively unscathed, as its township portfolio in Tianjin Eco-City, a China-Singapore government venture development, has seen strong initial residental sales and will produce sustainable growth in the next decade.
CIMB Research said it expects Keppel Land to weather China’s property cooling measures relatively unscathed, as its township portfolio in Tianjin Eco-City, a China-Singapore government venture development, has seen strong initial residental sales and will produce sustainable growth in the next decade.
“Its stock underperformance serves to reinforce our positive view. We continue to expect price catalysts from rising China township prices and Singapore office rents,” said CIMB in a report.
The brokerage said it expects Keppel Land’s China business to increasingly become an important growth driver for the company’s value.
At 10:29 a.m., shares of Keppel Land were 0.76% higher at $3.97 and have plunged 17% since the start of the year.
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