Stock Name: TCT
Company Name: TREASURY CHINA TRUST
SIAS Research in a June 1 research report says: "We made a trip to Shanghai and Qingdao late last week to visit five of Treasury China Trust's (TCT) assets (including Huai Hai Mall where the acquisition is not completed). All the assets were strategically located and the income producing assets' designs were better than expected.
"Management also shared with us their approach of seeking out undervalued assets that show promise of significant rental uplift. Though we like the company's assets and strategies, we are uncomfortable with the large retail space pipelines that are coming online in Shanghai and Qingdao over the next few years.
"Hence, we are increasing our cost of equity from 8.9% to 9.4% to take into account the risk factor. Intrinsic value of $2.21. MAINTAIN INVEST."
Company Name: TREASURY CHINA TRUST
| Research House: SIAS | Price Call: BUY | Target Price: 2.21 |
SIAS Research in a June 1 research report says: "We made a trip to Shanghai and Qingdao late last week to visit five of Treasury China Trust's (TCT) assets (including Huai Hai Mall where the acquisition is not completed). All the assets were strategically located and the income producing assets' designs were better than expected.
"Management also shared with us their approach of seeking out undervalued assets that show promise of significant rental uplift. Though we like the company's assets and strategies, we are uncomfortable with the large retail space pipelines that are coming online in Shanghai and Qingdao over the next few years.
"Hence, we are increasing our cost of equity from 8.9% to 9.4% to take into account the risk factor. Intrinsic value of $2.21. MAINTAIN INVEST."
No comments:
Post a Comment