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'Buy' Frasers Centrepoint Trust on stable performance: analysts

Felicia Tan
Felicia Tan4/27/2021 5:14 PM GMT+08  • 5 min read
'Buy' Frasers Centrepoint Trust on stable performance: analysts
Despite the positive recommendations, all brokerages have reduced FCT's TP and DPU estimates on the disposal of Yew Tee Point.
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Analysts from CGS-CIMB Research, OCBC Investment Research (OIR), PhillipCapital and UOB Kay Hian have maintained “add” or “buy” on Frasers Centrepoint Trust (FCT) as the trust reported an improved distribution per unit (DPU) of 5.996 cents for the 1HFY2021 ended March.

See: Frasers Centrepoint Trust reports 28.4% higher 1H21 DPU of 5.996 cents, boosted by enlarged retail portfolio

All four brokerages have, however, reduced their target prices on the REIT. CGS-CIMB has reduced FCT’s target price to $2.87 from $3.01 previously, while OCBC has reduced its fair value estimate to $2.78 from $2.95. PhillipCapital has cut its target price to $2.88 from $2.93, while UOB Kay Hian has reduced its target price to $3.06 from $3.18.

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