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PhillipCapital upgrades CICT to 'buy' as it sees recovery in full swing

Felicia Tan
Felicia Tan5/9/2022 11:06 PM GMT+08  • 3 min read
PhillipCapital upgrades CICT to 'buy' as it sees recovery in full swing
While the analysts are generally positive on CICT, its rising electricity costs are a concern. Photo: CapitaLand
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Analysts from PhillipCapital and UOB Kay Hian are positive on CapitaLand Integrated Commercial Trust’s (CICT) prospects after the REIT posted its business update for the 1QFY2022 ended March.

PhillipCapital analyst Natalie Ong has upgraded her call to “buy” with a raised target price of $2.46 from $2.39.

CICT’s 1QFY2022 revenue and net property income (NPI), at a respective $339.7 million and $248.3 million, stood in line with the analyst’s estimates at 23.7% of her full-year forecasts.

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