CGS-CIMB analyst Lock Mun Yee has kept ‘add’ on CapitaLand with an unchanged target price of $4.04 after the group divested part of its stakes in six Raffles City developments in China on June 28.

The agreed portfolio value of RMB46.7 billion ($9.6 billion) is at a 6.7% premium to valuation, notes Lock.


See: CapitaLand divests partial stakes in six Raffles City developments in China in $9.6 bil deal


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