Home Capital Broker's Calls

No catalysts in sight for CityDev as new housing initiatives threaten to curb buying sentiment: Jefferies

Michelle Zhu
Michelle Zhu8/21/2018 02:55 PM GMT+08  • 3 min read
No catalysts in sight for CityDev as new housing initiatives threaten to curb buying sentiment: Jefferies
SINGAPORE (Aug 21): Jefferies is reiterating its “hold” call on City Developments (CDL) with a price target of $11, which is based on a 22% discount to a RNAV of $14, with the view that there are no immediate catalysts for the stock.
Font Resizer
Share to WhatsappShare to FacebookShare to LinkedInMore Share
Scroll to top
Follow us on Facebook and join our Telegram channel for the latest updates.

SINGAPORE (Aug 21): Jefferies is reiterating its “hold” call on City Developments (CDL) with a price target of $11, which is based on a 22% discount to a RNAV of $14, with the view that there are no immediate catalysts for the stock.

The research house remains cautious on developers considering the government’s recent announcement of new public housing initiatives, namely the Voluntary Early Redevelopment Scheme (VERS) and a second version of the Home Improvement Programme (HIP II).


See: PM Lee unveils healthcare and housing plans to curb cost of living pressures

For more insights on corporate trends...
Sign In or Create an account to access our premium content.
Subscription Entitlements:
Less than $9 per month
Unlimited access to latest and premium articles
3 Simultaneous logins across all devices
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)
×
Loading next article...
The Edge Singapore
Download The Edge Singapore App
Google playApple store play
Keep updated
Follow our social media
Subscribe to The Edge Singapore
Get credible investing ideas from our in-depth stock analysis, interviews with key executives, corporate movements coverage and their impact on the market.
© 2022 The Edge Publishing Pte Ltd. All rights reserved.