Stock Name: FrasersCT
Company Name: FRASERS CENTREPOINT TRUST
Company Name: FRASERS CENTREPOINT TRUST
| Research House: CIMB | Price Call: BUY | Target Price: 2.31 |
Frasers Centrepoint Trust's (J69U.SG) fiscal 2Q and 1H DPUs were broadly in line with expectations, CIMB says, noting 2Q13 NPI rose 10% on-year as higher NPI margins added to an 8% revenue increase.
"Causeway Point and NorthPoint remain the key drivers of FCT's performance. We continue to like FCT for its resilient retail exposure, and see catalysts from the accretive acquisition of a larger Changi City Point, which should provide FCT with its next prong of growth."
It raises its target to $2.31 from $2.29, keeping an Outperform call. The stock is down 0.5% at $2.23.
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