Singapore Stock Market News

Capitacommercial Trust - Stable with slow growth

StockFanatic
Publish date: Thu, 23 Jan 2014, 09:37 PM
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CCT posted flattish 4Q13 results, with revenue and DPU growing at 1.5% and 2.0% yoy respectively. We deem the full-year results largely in line as they are only 2% and 1% short respectively of our FY13 revenue and DPU estimates. The next phase of growth is expected to be driven by the upcoming CapitaGreen that is scheduled for completion in 4Q14.

We maintain our Hold rating, but trim our FY14-15 EPS for the slower commitment rates, resulting in a lower target price of S$1.51.
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