Stock Name: CapMallsAsia
Company Name: CAPITAMALLS ASIA LIMITED
CapitaMalls said on Friday its fourth quarter net profit rose 43% to $205.4 million, in line with OCBC’s expectations.
Company Name: CAPITAMALLS ASIA LIMITED
| Research House: OCBC | Price Call: BUY | Target Price: 1.79 |
OCBC Investment Research has raised its target price for Singapore’s shopping mall developer CapitaMalls Asia to $1.79 from $1.48 and maintained its buy rating.
CapitaMalls’ shares have surged 31% so far this year and closed at $1.48 on Friday.
CapitaMalls’ shares have surged 31% so far this year and closed at $1.48 on Friday.
CapitaMalls said on Friday its fourth quarter net profit rose 43% to $205.4 million, in line with OCBC’s expectations.
The brokerage said it forecast CapitaMalls’ recurring profit to jump 84% in 2012 to $221 million, as more of its shopping malls begin operations.
“We also expect China’s loosening monetary policy stance to limit the downside for CapitaMalls’ Chinese exposure,” OCBC said in a report.
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