Monday, October 20, 2014

CapitaMall Trust upgraded to "buy" from "hold" by CIMB

Stock Name: CapitaMall Trust
Company Name: CAPITAMALL TRUST
Research House: CIMBPrice Call: BUYTarget Price: 2.11



SINGAPORE (Oct 20): CIMB has upgraded its rating on CapitaMall Trust to "add" from "hold", saying the stock offers an "attractive" total return of 16%, based on its unchanged price target of $2.11, following its recent pullback.

Fundamentally, while the REIT's organic growth is likely to remain anaemic in the near term, tenant sales and shopper traffic are seeing some traction, with lower y-o-y declines, according to CIMB analyst Lock Mun Yee.

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