CGS-CIMB analyst Lock Mun Yee reiterated a Buy rating on CapitaLand Investment Limited (9CI – Research Report) yesterday and set a price target of S$4.30.
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Lock Mun Yee has given his Buy rating due to a combination of factors that highlight CapitaLand Investment Limited’s (CLI) strong performance and strategic initiatives. The company’s revenue for the first quarter of 2025 was in line with expectations, supported by growth in fee income-related business segments such as listed funds, lodging, and commercial management. This steady revenue stream underscores CLI’s robust recurring fee-income base, which provides reliable income visibility.
Furthermore, CLI’s strategic focus on investing in growth areas like logistics, self-storage, and data centers, along with its partnerships with entities like SC Capital Partners and Wingate, positions it well for future expansion. The company’s efforts in capital recycling and optimizing its equity base are expected to drive cost efficiencies. Despite some challenges, such as divestments affecting real estate investment business revenue, CLI’s asset-light fund management model and potential for faster growth in funds under management (FUM) are seen as catalysts for enhancing return on equity (ROE).
In another report released today, Phillip Securities also maintained a Buy rating on the stock with a S$3.65 price target.
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