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

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.