CCT’s Golden Shoe redevelopment a fitting project for value creation

SINGAPORE (Oct 19): Maybank Kim Eng is reiterating its “buy” call on CapitaLand Commercial Trust (CCT) with an unchanged target price of $1.81.

In a Wednesday report, analyst Derrick Heng says CCT remains Maybank’s top pick as it finds the Trust’s forward yields of 5.7% attractive given its strong WALE of 6.8 years, as well as its DPU growth from the acquisition of CapitaGreen.

CCT on Wednesday posted a 3Q y-o-y increase in distribution per unit (DPU) of 7.5% to 2.3 cents, which was in line with the research house’s expectations.

---

Related Stories

• Lim & Tan Securities maintains ‘buy’ on Grand Banks Yachts; almost doubles TP to $1.05
• Brokers’ Digest: AEM, Prime US REIT, Hyphens Pharma, Seatrium, Valuetronics, DFI Retail Group, CDG, Centurion, Sembcorp
• Citi maintains ‘buy’ on Keppel DC REIT after acquisition of two data centres in Genting Lane

---