Stock Name: CITYDEV
Company Name: CITY DEVELOPMENTS LIMITED
Company Name: CITY DEVELOPMENTS LIMITED
| Research House: Maybank Kim Eng | Price Call: HOLD | Target Price: 9.45 |
Maybank Kim Eng upgraded property developer City Developments to hold from sell and raised its price target to $9.45 from $9.30, ci ting stable hotel operations and less expensive valuations.
Shares of City Developments were down 1.7% at $10.41 and have gained around 17% so far this year, outperforming the broader market.
The developer has seen slow but steady demand for units in its mass-market projects for the first quarter this year, selling over 250 units in March, the brokerage said, citing data from the Urban Redevelopment Authority.
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