Analysts keep 'buy' on CapitaLand after 1Q21 update reflects recovery

Analysts from PhillipCapital and RHB Group Research are maintaining their “buy” calls on CapitaLand after the property group reflected a “continuous operational recovery” across all its asset classes in its business update for the 1QFY2021 ended March on May 12.

While the group’s recovery looks to be under threat due to the new waves of infections, PhillipCapital analyst Natalie Ong expects the second round of lockdowns around the globe to have “knock-on effects” on the group’s operating segments.