CDL Hospitality Trusts downgraded to "hold" by CIMB

Stock Name: CDL HTrust
Company Name: CDL HOSPITALITY TRUSTS

Research House: CIMB

Price Call: HOLD

Target Price: 1.86

SINGAPORE (Jan 29): CIMB has downgraded CDL Hospitality Trusts (CDL-HT) to "hold" from "add" and cut its price target to $1.86 from $1.90, citing stretched valuations and an expected drop in business in 1Q2015.

The property trust's distribution per unit for 1Q2015 is likely to be lower because of reduced business travel during the Chinese New Year period in February and the absence of a major annual aerospace event in Singapore at the start of the year, according to CIMB analyst Pang Ti Wee.