Stock Name: CDL HTrust
Company Name: CDL HOSPITALITY TRUSTS
Phillip Securities Research in a Apr 4 research report says: "An escalation of 13.9% y-y for the aggregate visitor arrivals in the first two months was far better than our base-case projection of 2% growth in 2012.
"We expect RevPAR for CDL HT’s Singapore hotel portfolio to gain higher ground to $221 and $232 given our estimated occupancies of 86.5% and 87.5% in 2012/13 respectively. We are confident that CDL HT is likely to turn in better-than expected 1QFY12 result, with higher RevPAR for Singapore hotel portfolio relative to 1QFY11.
"With current macro-economic situation better than six months ago, we have ascribed lower discount rate of 8.5% and derived a price target of $1.91. The potential upside of 14.1% including the FY2012 dividend yield of 6.5% looks more palatable than before. ACCUMULATE."
Company Name: CDL HOSPITALITY TRUSTS
| Research House: Phillip Securities | Price Call: BUY | Target Price: 1.91 |
Phillip Securities Research in a Apr 4 research report says: "An escalation of 13.9% y-y for the aggregate visitor arrivals in the first two months was far better than our base-case projection of 2% growth in 2012.
"We expect RevPAR for CDL HT’s Singapore hotel portfolio to gain higher ground to $221 and $232 given our estimated occupancies of 86.5% and 87.5% in 2012/13 respectively. We are confident that CDL HT is likely to turn in better-than expected 1QFY12 result, with higher RevPAR for Singapore hotel portfolio relative to 1QFY11.
"With current macro-economic situation better than six months ago, we have ascribed lower discount rate of 8.5% and derived a price target of $1.91. The potential upside of 14.1% including the FY2012 dividend yield of 6.5% looks more palatable than before. ACCUMULATE."
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