Stock Name: CDL HTrust
Company Name: CDL HOSPITALITY TRUSTS
OCBC Investment Research in a Mar 6 research report says: "The significant DC increase has marginally driven up the replacement cost of hotel rooms and thus would have a positive valuation effect on hotels and also on CDLHT.
"As we have identified in our previous report, there are three hotels being developed by City Developments Ltd (CDL) which CDLHT could consider acquiring. These hotels should be opening over 2012 to 2015 and are not subject to the new DC increases.
"We are positive on the long-term prospects of the hospitality sector and believe that this year will set a new visitor arrival record over last year’s stellar 13.2 million (up 13%). Fair value estimate of $2 based on a RNAV analysis. MAINTAIN BUY."
Company Name: CDL HOSPITALITY TRUSTS
| Research House: OCBC | Price Call: BUY | Target Price: 2.00 |
OCBC Investment Research in a Mar 6 research report says: "The significant DC increase has marginally driven up the replacement cost of hotel rooms and thus would have a positive valuation effect on hotels and also on CDLHT.
"As we have identified in our previous report, there are three hotels being developed by City Developments Ltd (CDL) which CDLHT could consider acquiring. These hotels should be opening over 2012 to 2015 and are not subject to the new DC increases.
"We are positive on the long-term prospects of the hospitality sector and believe that this year will set a new visitor arrival record over last year’s stellar 13.2 million (up 13%). Fair value estimate of $2 based on a RNAV analysis. MAINTAIN BUY."
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