SINGAPORE (May 12): Amid a subdued economic environment and footfall at retail spaces following the circuit breaker measures, KGI analyst Joel Ng has an “outperform” call on Frasers Centrepoint Trust (FCT) at a target price of $2.39 down from his previous $2.51 call.

Ng’s optimism stems from expectations that retail assets in Singapore “should perform better given the different dynamics at play”.

“We acknowledge the challenges facing retail [Real Estate Investment Trusts] REITs like FCT in 2020. Investors should however look beyond the current weakness and identify positive trends shaping the future of physical retail malls,” he adds in a May 11 note.

To continue reading,

Sign in to access this Premium article.

Subscription entitlements:

Less than $9 per month
3 Simultaneous logins across all devices
Unlimited access to latest and premium articles
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)

Stay updated with Singapore corporate news stories for FREE

Follow our Telegram | Facebook