Mapletree Greater China Commercial gets 'add' call, $1.18 target from CIMB

Stock Name: Mapletree GCC Tr
Company Name: MAPLETREE GREATER CHINACOMM TR

Research House: CIMB

Price Call: BUY

Target Price: 1.18

SINGAPORE (May 7): CIMB has started coverage on Mapletree Greater China Commercial Trust with an "add" call and a price target of $1.18.

The REIT's two properties - Festival Walk in Hong Kong and Gateway Plaza in Beijing - are "iconic" in their respective markets, supported by "excellent" connectivity and large catchment areas that provide resilient shopper patronage and consistent demand for its office space, according to CIMB analyst Lock Mun Yee.

Mapletree Greater China Commercial Trust cut to "hold" by OCBC

Stock Name: Mapletree GCC Tr
Company Name: MAPLETREE GREATER CHINACOMM TR

Research House: OCBC

Price Call: HOLD

Target Price: 1.01

SINGAPORE (Jan 28): OCBC Investment Research has downgraded Mapletree Greater China Commercial Trust (MGCCT) to "hold" from "buy", citing limited upside to its $1.01 price target.

Even so, MGCCT's fundamentals remain resilient, according to OCBC analyst Andy Wong.

The REIT's overall occupancy rate as at Dec 31 was "a healthy" 99.4%, while tenants' sales at its Festival Walk property rose 5.1% y-o-y in the December quarter.

Mapletree Greater China Commercial Trust maintained at 'neutral' with $1.02 price target by Goldman Sachs

Stock Name: Mapletree GCC Tr
Company Name: MAPLETREE GREATER CHINACOMM TR

Research House: Golman Sachs

Price Call: HOLD

Target Price: 1.02

SINGAPORE (Oct 28): Goldman Sachs is keeping its "neutral" call on Mapletree Greater China Commercial Trust with a slightly higher price target of $1.02.

In an Oct 27 earnings review, Goldman Sachs says that although MGCCT's DPU rose 10.4% to 1.606 cents or 2% higher than its projection, rental revenue growth of Festival Walk slowed to a smaller than expected 3.6% yoy in 2QFY15 from 6.9% yoy in 1QFY15.