CGS-CIMB Research analysts Eing Kar Mei and Lock Mun Yee are positive on Frasers Centrepoint Trust (FCT) following the announcement of its acquiring the remaining 63.1% of PGIM Asia Retail Fund (ARF), on September 3.

See: Frasers Centrepoint Trust announces transformational transaction, catapulting it to the big league

“We like ARF’s malls as they are strategically located within five minutes walking distance of an MRT station," say Eing and Lock in a report dated September 4, as they maintain their “add” recommendation on the stock with a higher target price of $2.83 from $2.78 previously. 

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