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Analysts positive on FCT with higher target prices amid encouraging 1Q results

Felicia Tan
Felicia Tan1/25/2021 5:41 PM GMT+08  • 6 min read
Analysts positive on FCT with higher target prices amid encouraging 1Q results
Units in FCT closed 2 cents higher or 0.8% up at $2.61 on Jan 25.
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While there were no financials disclosed in Frasers Centrepoint Trust’s (FCT) business update for the 1QFY2021 ended December, analysts from CGS-CIMB Research, PhillipCapital, Maybank Kim Eng and UOB Kay Hian are encouraging investors to continue to accumulate units in the trust.

CGS-CIMB analysts Eing Kar Mei and Lock Mun Yee have maintained “add” on FCT with a higher target price of $3.01 from $2.89 as they view the trust’s 1Q updates to reflect an “encouraging quarter amid uncertainties”.

On Jan 21, FCT reported improved occupancy rate across all its assets q-o-q to 90.7% to 98.7%, with an overall portfolio occupancy of 96.4% during the quarter.

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