Home Capital Broker's Calls

UOB Kay Hian upgrades CDLHT to 'buy' with higher TP of $1.42

Felicia Tan
Felicia Tan1/4/2022 4:11 PM GMT+08  • 4 min read
UOB Kay Hian upgrades CDLHT to 'buy' with higher TP of $1.42
Analyst Jonathan Koh is positive on the REIT as he sees it benefitting from the reopening, which is slated to resume in 2H2022.
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.

UOB Kay Hian has upgraded its recommendation on CDL Hospitality Trusts (CDLHT) to “buy” with a higher target price of $1.42 from $1.24 previously.

The higher target price is based on a dividend discount model (DDM), where the cost of equity makes up 6.5% and terminal growth makes up 1.8%, says analyst Jonathan Koh in a Jan 4 report.

“CDREIT trades at price-to-net asset value (P/NAV) of 0.93 times, which is 0.3 standard deviation (s.d.) below long-term mean,” he adds.

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.