SINGAPORE (July 25): CIMB continues to rate Frasers Commercial Trust (FCOT) at “hold” with a higher target price of $1.45 from $1.39 previously after its manager reported a 3Q distribution per unit (DPU) of 2.4 cents, in line with the research house’s expectations.
See: Frasers Commercial Trust declares lower 3Q DPU of 2.4 cents
In a Tuesday report, analysts Lock Mun Yee and Yeo Zhi Bin share that they have tweaked their long-term blended Singapore/Australia growth rate estimates to 1.9% from 1.5% previously on slight growth assumptions for both Singapore on the back of an anticipated office cycle recovery, as well as Australia due to in-built step-ups.
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