Price targets:

RHB Research BUY $4
UOB Kay Hian HOLD $3.20
Morningstar BUY $4.30

Analysts remain positive on CapitaLand even after its business update announcement on May 4, which warned that its 1Q20 operating performance across Singapore, China, India, Vietnam, and the other countries it operates in, has been affected by the Covid-19 pandemic.

“CapitaLand remains our preferred sector pick for its diversified portfolio, with a high proportion of recurring income offering resilience. We see good value at current share price levels, as the stock is trading at 0.6 times price-to-book value,” says RHB analyst Vijay Natarajan, who is keeping his “buy” call but with a slightly lower target price of $4 from $4.20 previously.

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