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.

To continue reading,

Sign in to access this Premium article.

Subscription entitlements:

Less than $9 per month
3 Simultaneous logins across all devices
Unlimited access to latest and premium articles
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)

Related Stories

Stay updated with Singapore corporate news stories for FREE

Follow our Telegram | Facebook