CapitaLand’s third quarter results show a “sizzling” period of sales for its China business, allowing it to shrug off a bleak outlook for its Singapore segment, UOB Kay Hian notes.
Singapore’s weak market, thanks largely to government cooling measures and limited demand prospects, has made the city-state a weak point on developers’ balance sheets. “Management remains cautious on the outlook for the
Singapore market with extension charges incurred this quarter, although the resilient balance sheet should well absorb future penalties,” UOB Kay Hian says, maintaining its buy recommendation and target price of $4.08 a share.
CapitaLand is trading at $3.15, down 2.5% from its Friday close.
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Singapore’s weak market, thanks largely to government cooling measures and limited demand prospects, has made the city-state a weak point on developers’ balance sheets. “Management remains cautious on the outlook for the
Singapore market with extension charges incurred this quarter, although the resilient balance sheet should well absorb future penalties,” UOB Kay Hian says, maintaining its buy recommendation and target price of $4.08 a share.
CapitaLand is trading at $3.15, down 2.5% from its Friday close.
Click Here To Register For Free Trial Services OR Give A Missed Call : +6531581402 Follow Us On Twitter : www.twitter.com/epicresearchsg Like Us On Facebook : www.facebook.com/EpicResearchSingapore Need Any Assistance Feel Free To Mail Us at : info@epicresearch.sg
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