DBS Group Research has turned more bullish on CapitaLand Retail China Trust (CRCT) following the latter’s proposed acquisition of several properties in China and the further improvement in the retail sector there.

The brokerage has raised its target price to $1.70, from $1.55 previously, with an unchanged “buy” rating.

On Nov 6, CRCT announced that it will acquire five business park properties and the balance 49% stake in Rock Square mall.

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