Analysts from both CGS-CIMB Research and DBS Group Research have kept their “buy” or “add” calls on Far East Hospitality Trust (FEHT), with DBS raising their target price..
DBS’s Geraldine Wong and Derek Tan have handed the stock a target price of 78 cents, up from their previous target price of 70 cents, while CGS-CIMB analysts Eing Kar Mei and Lock Mun Yee maintain their target price of 74.5 cents.
FEHT entered into a put and call option agreement with City Developments Limited (CDL) subsidiary CDL Constellation, to divest its interest in Central Square (CS) for $313.2 million, plus an incentive fee of up to $18 million.
This is subject to certain conditions being fulfilled by Dec 31, 2023, including getting provisional permission for a higher mix of residential use.
