Singapore Stock Market News

City Developments - Opportunities in Adversity

StockFanatic
Publish date: Tue, 08 Dec 2015, 09:40 AM
StockFanatic
0 10,452
Welcome to Stockfanatic Singapore stock market and regional market news. This is a platform to share Singapore stock market and regional news to investors / man in the street. Investors can also look forward to analyst reports and brokers recommendations. Stockfanatic's Singapore stock market and regional news blog, home of investors one stop news station.

Lower TP after revaluing its investment assets
CDL's 2H15 share-price weakness is arguably caused by a tepid office market. We cut RNAV to SGD12.22 from SGD12.72 to capture lower investment-property valuations. This lowers our TP to SGD10.40, still at a 15% discount to RNAV. But CDL trades at a 40% discount, not warranted as it implies stub valuations during GFC. Bear in mind that any roll-back of cooling measures could revive home sales and CDL has multiple options to monetise held-at-cost assets. It is now our top sector pick.
Read more »
Discussions
Be the first to like this. Showing 0 of 0 comments

Post a Comment