Singapore Stock Market News
CDL Hospitality Trust - The waiting continues
StockFanatic
Publish date: Wed, 30 Oct 2013, 04:16 PM
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3Q13 results were slightly weaker
than our estimate with DPU for the
quarter accounting for 23% of our
FY13 forecast and 9M13 DPU at 71%.
We lower our estimates to account
for the slightly weaker-than-expected
results and roll over our valuations
to FY15. This nudges up our
DDM-based target price (discount
rate: 8.5%) to S$1.76. Maintain
Neutral.
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