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Analysts start CapitaLand Investment at 'buy' with TPs of $3.64 and $3.90

Felicia Tan
Felicia Tan10/1/2021 12:57 PM GMT+08  • 3 min read
Analysts start CapitaLand Investment at 'buy' with TPs of $3.64 and $3.90
As at 12.55pm, shares in CLI are trading 7 cents lower or 2.06% down at $3.33.
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Analysts from Goldman Sachs and HSBC Global Research have initiated “buy” on CapitaLand Investment (CLI) with target price estimates of $3.64 and $3.90 respectively.

According to Goldman Sachs analysts Xuan Tan, Gurpreet Singh Sahi and Hanyu Zou, their target price of $3.64 implies an FY2022 of 1.19 times price-to-net asset value (P/NAV).

The valuation, say the analysts, is “justified” by CLI’s return on equity (ROE) improving to 7% over FY2022 to FY2023 versus 4% on average over the past three years.

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