Lock Mun Yee, an analyst from CGS International, reiterated the Buy rating on CapitaLand Investment Limited. The associated price target remains the same with S$4.19.
Meet Samuel – Your Personal Investing Prophet
- Start a conversation with TipRanks’ trusted, data-backed investment intelligence
- Ask Samuel about stocks, your portfolio, or the market and get instant, personalized insights in seconds
Lock Mun Yee has given his Buy rating due to a combination of factors, notably the resilience of CapitaLand Investment’s fee-related business and its solid financial footing. The company’s fee-based revenue rose at a healthy double-digit pace, supported by stronger recurring and event-driven fees across listed and private funds as well as commercial management, while lodging metrics also improved, underlining stable operational performance.
Despite a drag from the real estate investment segment following the Synergy divestment, Lock Mun Yee sees value in CLI’s asset-light, fund-management-driven model, which underpins recurring income and return on equity. With net gearing at a manageable level, expectations of marginally lower funding costs, a clear focus on thematic investments in resilient markets, and continued capital recycling and fundraising progress, he maintains an unchanged price target of S$4.19 and reiterates a positive view on the stock’s re-rating potential.
Mun Yee covers the Real Estate sector, focusing on stocks such as CapitaLand Ascendas REIT, ESR-REIT, and CapitaLand Integrated Commercial Trust. According to TipRanks, Mun Yee has an average return of 4.2% and a 46.15% success rate on recommended stocks.
In another report released today, Phillip Securities also maintained a Buy rating on the stock with a S$3.69 price target.