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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