SINGAPORE (Dec 3): UOB KayHian is maintaining its “buy” on CapitaLand with a higher target price of $4.40, pegged to a 20% discount to its revised RNAV.
This comes after the research house updated its valuation model to incorporate its new acquisitions in the United States as well as updated tenant commitment data on Jewel Changi.
Two weeks ago, the property group also expanded its exposure to China, via its effective stake of 20.85% in $2.54 billion acquisition of Shanghai’s tallest twin towers.
