Frasers Centrepoint Trust coverage restarted at "buy", $2.22 target by RHB

Stock Name: Frasers Cpt Tr
Company Name: FRASERS CENTREPOINT TRUST

Research House: RHB

Price Call: BUY

Target Price: 2.22

SINGAPORE (April 2): RHB Securities Singapore has restarted coverage on Frasers Centrepoint Trust (FCT) with a "buy" rating and price target of $2.22.

"Frasers Centrepoint Trust is a defensive investment in this volatile equity market," RHB analysts Ivan Looi and Ong Kian Lin wrote in a note today.

FCT is the only REIT with 100% exposure to the "defensive" suburban retail market, they said, noting that its occupancy rates during the global financial crisis were strong at between 87.7% and 88.7%.