Stock Name: FrasersCT
Company Name: FRASERS CENTREPOINT TRUST
CIMB in an Oct 21 research report says: "FY2011 ended on a high note for FCT, aided by a rebound in occupancy and rental reversions from a partially-refurbished Causeway Point.
"We continue to like its resilient suburban retail exposure and see the refurbishment of Causeway Point as a key game-changer. FY2011 DPU was spot on for us though slightly above consensus. 4Q11 DPU forms 28% of our estimate on stronger Causeway Point contributions.
"Occupancy at its other assets also held up above 95%. We raise our DPU estimates and DDM-based target price (discount rate 8.4%) on lower interest costs. Target price of $1.65 (previous: $1.63).
Company Name: FRASERS CENTREPOINT TRUST
| Research House: CIMB | Price Call: BUY | Target Price: 1.65 |
CIMB in an Oct 21 research report says: "FY2011 ended on a high note for FCT, aided by a rebound in occupancy and rental reversions from a partially-refurbished Causeway Point.
"We continue to like its resilient suburban retail exposure and see the refurbishment of Causeway Point as a key game-changer. FY2011 DPU was spot on for us though slightly above consensus. 4Q11 DPU forms 28% of our estimate on stronger Causeway Point contributions.
"Occupancy at its other assets also held up above 95%. We raise our DPU estimates and DDM-based target price (discount rate 8.4%) on lower interest costs. Target price of $1.65 (previous: $1.63).
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