SINGAPORE (Nov 25): DBS is maintaining its “buy” call on developer CapitaLand with a $3.60 target price.
In a Friday report, lead analyst Rachel Tan says the stock offers good value, trading at an attractive 0.7x P/BV and 0.6x P/RNAV.
In addition, Tan likes the group’s strategy of growing its commercial portfolio as it raises earnings visibility while the opportunistic recycling of mature assets into its REITs and funds provides upside potential to its earnings estimates.
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