Analysts from DBS Group Research and Maybank Kim Eng have maintained their “buy” calls on Frasers Centrepoint Trust (FCT), with both brokerages handing the stock target prices of $2.90.

DBS analysts Geraldine Wong and Derek Tan write that, “In the face of retail headwinds, we remain convinced that FCT’s portfolio of suburban malls is well-anchored against the recent tightening measures.”

Furthermore, they note that FCT’s tenant sales “continue to surprise” at about 95% of normalised levels across Phase 2 heightened alert (P2HA) months, and a trough of about 80% of normalised levels. 

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