Mapletree Commercial Trust started at "hold", $1.43 target by Maybank Kim Eng

Stock Name: Mapletree Com Tr
Company Name: MAPLETREE COMMERCIAL TRUST

Research House: Maybank Kim Eng

Price Call: HOLD

Target Price: 1.43

SINGAPORE (March 26): Maybank Kim Eng has started coverage on Mapletree Commercial Trust (MCT) at "hold" and a price target of $1.43.

"It's hard to find a mall in Singapore that is leveraged to both tourism and heartland spending, but MCT has that in Vivocity. The gateway to Sentosa, it commands tourist traffic," Maybank Kim Eng analyst Joshua Tan wrote in a note.

"With little direct competition in the vicinity, it has almost exclusive catchment from the Bukit Merah and Telok Blangah enclaves," he said.