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Analysts up their target prices on Frasers Centrepoint Trust due to steady occupancies

Lim Hui Jie
Lim Hui Jie11/4/2020 02:14 PM GMT+08  • 5 min read
Analysts up their target prices on Frasers Centrepoint Trust due to steady occupancies
Analysts are positive on FCT, all maintaining their “buy” and “add” calls with raised target prices.
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Analysts have all maintained their “buy” and “add” calls on Frasers Centrepoint Trust (FCT) with raised target prices.

UOB Kay Hian analysts Jonathan Koh and Loke Peihao, who have upped their target price of $3.15, up from $3.10, said FCT’s 2HFY2020 results demonstrated the “resiliency” of its suburban malls, despite recording a y-o-y drop in 2HFY2020 revenue and net property income (NPI) of 33.8% and 43.8% yoy, respectively.

The decline in revenue and NPI were mainly due to rental rebate assistance granted to tenants.

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