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CapitaLand Mall Trust kept at 'buy' in the face of new retail supply

Samantha Chiew
Samantha Chiew6/20/2017 3:31 PM GMT+08  • 2 min read
CapitaLand Mall Trust kept at 'buy' in the face of new retail supply
SINGAPORE (June 20): DBS is maintaining its “buy” call on CapitaLand Mall Trust (CMT) with a higher target price of $2.17 on attractive valuations.
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SINGAPORE (June 20): DBS is maintaining its “buy” call on CapitaLand Mall Trust (CMT) with a higher target price of $2.17 on attractive valuations.

CMT’s share price has lagged behind both S-REIT index and Singapore 10-year government bonds which is down by 30bps to 2.08% since the start of the year.

In a Tuesday report, analyst Derek Tan says: “We believe the underperformance is due to investors’ concerns on potential downside earnings risk given the weak operating outlook but we believe these risks are priced in at current levels.”

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