Stock Name: FrasersCT
Company Name: FRASERS CENTREPOINT TRUST
CIMB in a Sept 20 research report says: "We visited FCT's Causeway Point and its newlyacquired Bedok Point recently. As FCT's largest asset, we see the refurbishment of Causeway Point as a potential game-changer for FCT.
"With funding details concluded, we factor in the acquisition of Bedok Point and raise our FY2012-2013 DPU estimates by less than 1%. Our DDM-based target price is, however, unchanged at $1.63 (discount rate 8.4%).
"We continue to like FCT's exposure to resilient suburban retail assets and strong balance sheet (34% after acquisition), anticipating catalysts from stronger-than-expected rentals for Causeway Point after its refurbishment and improved stock liquidity. MAINTAIN OUTPERFORM."
Company Name: FRASERS CENTREPOINT TRUST
| Research House: CIMB | Price Call: BUY | Target Price: 1.63 |
CIMB in a Sept 20 research report says: "We visited FCT's Causeway Point and its newlyacquired Bedok Point recently. As FCT's largest asset, we see the refurbishment of Causeway Point as a potential game-changer for FCT.
"With funding details concluded, we factor in the acquisition of Bedok Point and raise our FY2012-2013 DPU estimates by less than 1%. Our DDM-based target price is, however, unchanged at $1.63 (discount rate 8.4%).
"We continue to like FCT's exposure to resilient suburban retail assets and strong balance sheet (34% after acquisition), anticipating catalysts from stronger-than-expected rentals for Causeway Point after its refurbishment and improved stock liquidity. MAINTAIN OUTPERFORM."
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