CapitaLand started at "buy", $3.82 target by AmFraser

Stock Name: CapitaLand
Company Name: CAPITALAND LIMITED

Research House: AmFraser

Price Call: BUY

Target Price: 3.82

SINGAPORE (Dec 2): AmFraser has started coverage on CapitaLand with a "buy" rating and price target of $3.82, pegged at a 25% discount to RNAV.

The developer's established presence across various real estate segments - residential, retail, commercial, serviced residences and integrated developments - is important given the cyclical nature of real estate markets, according to AmFraser analyst Wilson Liew.

The company is "sufficiently de-risked" from the Singapore market, having proactively adjusted its strategies to reduce inventory risks, Liew said in a note today.