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FEHT kept at ‘buy’ by both CGS-CIMB and Maybank on ‘cautious optimism’

The Editor
The Editor4/29/2019 04:17 PM GMT+08  • 2 min read
FEHT kept at ‘buy’ by both CGS-CIMB and Maybank on ‘cautious optimism’
SINGAPORE (Apr 29): CGS-CIMB Securities and Maybank Kim Eng are maintaining their “buy” calls on Far East Hospitality Trust (FEHT) with target prices of 71 cents and 80 cents respectively.
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SINGAPORE (Apr 29): CGS-CIMB Securities and Maybank Kim Eng are maintaining their “buy” calls on Far East Hospitality Trust (FEHT) with target prices of 71 cents and 80 cents respectively.

Although off to a slow start in 1Q19, CGS-CIMB says the hospitality REIT should gain on lower cost of equity assumption due to a more benign interest rate outlook while Maybank says FEHT’s business fundamentals have remained sound.

To be sure, FEHT’s management remains cautiously optimistic on the outlook for its hotel business for the remainder of this year due to limited new supply and is maintaining its guidance for 3-4% industry RevPar growth, in tandem with CGS-CIMB and Maybank’s 3% growth assumption for FEHT.

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