CapitaLand price target raised to $4.20 by RHB; 'buy' call intact

Stock Name: CapitaLand
Company Name: CAPITALAND LIMITED

Research House: RHB

Price Call: BUY

Target Price: 4.20

SINGAPORE (May 4): RHB Securities Singapore has bumped up its price target for CapitaLand to $4.20 from $3.96 and kept its "buy" call.

"We like the fact that 94% of CapitaLand's China exposure by value is in Tier 1 and 2 cities, which limits downside risk," RHB analysts Ong Kian Lin and Ivan Looi wrote in a note today.

"We are keeping our eyes on more synergistic benefits related to its 'One CapitaLand' strategy - with a single listed developer integrated across asset classes, delivering a sustainable return on equity of 8%-12%," they said.