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CDL kept at ‘buy’ by Daiwa following acquisition of remaining 50% stake in Nouvel 18

Broker's Calls

CDL kept at ‘buy’ by Daiwa following acquisition of remaining 50% stake in Nouvel 18

Zavier Ong Published on Fri, Jul 08, 2016 / 11:12 AM GMT+8

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SINGAPORE (July 8): Daiwa has maintained its “buy” call for City Developments (CDL), with a target price of $11.21.

This follows the company’s acquisition of a 50% stake in 156-unit freehold residential development Nouvel 18 from Wing Tai Holdings, according to a report dated Wednesday.

Following the acquisition, CDL will be the full owner of the project.

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