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Analysts keep 'buy' on CDL as hospitality recovery expected to continue into 2022

Felicia Tan
Felicia Tan3/8/2022 9:16 AM GMT+08  • 6 min read
Analysts keep 'buy' on CDL as hospitality recovery expected to continue into 2022
As at 9.15am, shares in CDL are trading 1 cent lower or 0.14% down at $7.
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Analysts from DBS Group Research, PhillipCapital, RHB Group Research and UOB Kay Hian are keeping their “buy” recommendation on City Developments Limited (CDL) after the group posted earnings of $129.7 million for the 2HFY2021 ended December on Feb 25.

During the same period last year, CDL reported losses of $1.92 billion due to write-offs.

DBS analysts Rachel Tan and Derek Tan says they see “light at the end of the tunnel” for the group, especially from its hospitality segment, as “growth momentum returns and the economy picks up”.

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