Singapore Stock Market News

Capitacommercial Trust - Strong but upside capped

StockFanatic
Publish date: Sun, 20 Oct 2013, 09:39 PM
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Although we expect the office market to improve from here, with only 13% of its office space due for renewal next year, CCT's upside is likely to be capped, particularly with a lack of acquisition targets.

3Q13 results are in line, with DPU accounting for 26% of our full-year forecast and 9M13 DPU at 76%. In view of a lack of meaningful near-term growth catalysts, we remain Neutral with an unchanged DDM-based target price (discount rate 7.9%).
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