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

Felicia Tan
Felicia Tan5/17/2021 05:57 PM GMT+08  • 2 min read
Analysts keep 'buy' on CapitaLand after 1Q21 update reflects recovery
PhillipCapital and RHB have kept their target prices unchanged at $4.38 and $4.25 respectively.
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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.

That said, Ong has kept her target price of $4.38, based on probability-weighted revalued net asset value (RNAV) and sum of the parts (SOTP), with an 80% probability of demerger.

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