CapitaMall Trust cut to "hold" by AmFraser

Stock Name: CapitaMall Trust
Company Name: CAPITAMALL TRUST

Research House: AmFraser

Price Call: HOLD

Target Price: 2.31

SINGAPORE (Jan 27): AmFraser Securities has downgraded CapitaMall Trust to "hold" from "buy" on valuation grounds following the stock's recent run-up. It has a price target of $2.31.

Investors can consider buying the stock if it heads down to $2.10, according to AmFraser analyst Wilson Liew.

Catalysts for the stock include yield-accretive acquisitions, which could include Bedok Mall, and a go-ahead to fully utilize the 380,000 sq ft of approved additional commercial gross floor area at Funan IT mall, he said.