Analysts covering CapitaLand Integrated Commercial Trust (CICT) are mostly upbeat on its 1QFY2021 ended March business update which was released on April 26.

PhillipCapital kept its 'accumulate' rating with a higher target price of $2.54 from $2.50 previously. The higher target price factors in lower cost-of-debt assumptions upon refinancing and the restructuring of the CICT's Raffles City Singapore (RCS) hotel lease.

UOB Kay Hian Research and Maybank Kim Eng both retained their ‘buy’ calls and target prices of $2.42 and $2.55 respectively. Similarly, CGS-CIMB Research retained its ‘add’ call and target price of $2.56, while RHB Group Research kept its ‘neutral’ rating and target price of $2.10. 

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