Frasers Centrepoint Trust started at "buy", $2.24 target by AmFraser

Stock Name: Frasers Cpt Tr
Company Name: FRASERS CENTREPOINT TRUST

Research House: AmFraser

Price Call: BUY

Target Price: 2.24

SINGAPORE (Nov 18): AmFraser has started coverage on Frasers Centrepoint Trust (FCT) with a "buy" rating and $2.24 price target, based on a dividend discount model.

FCT has been delivering consecutive DPU growth at a compounded annual growth rate of 8% since its listing in July 2006, and investors can expect stable DPU yields of about 6% a year, according to AmFraser analysts Wong Hong Wei and Wilson Liew.