CapitaCommercial Trust upgraded to "hold" by OCBC on recent pullback

Stock Name: CapitaCom Trust
Company Name: CAPITACOMMERCIAL TRUST

Research House: OCBC

Price Call: HOLD

Target Price: 1.67

SINGAPORE (April 23): OCBC Investment Research has upgraded CapitaCommercial Trust (CCT) to "hold" from "sell" on valuation grounds, noting that the stock has fallen more than 8% since mid-January.

It has a price target of $1.67 on CCT.

The REIT's 1Q2015 results, released yesterday, were broadly in line with expectations, according to OCBC analyst Eli Lee.

Distribution per unit came in at 2.12 cents, up from 2.04 cents a year earlier, while revenue rose 6.5% to $68.2 million and net property income grew 6.4% to $54 million.