DBS analyst Derek Tan has maintained their bullish stance on 9CI stock, giving a Buy rating today.
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Derek Tan has given his Buy rating due to a combination of factors, despite the weak FY25 headline earnings that were dragged down by sizeable valuation losses in the China portfolio. He views these write-downs as largely non-cash and believes the substantial China write-off now better aligns book values with market conditions, reducing the risk of further downside from this segment.
He also notes that core operating profits were broadly in line with expectations, supporting a stable dividend payout and demonstrating resilience in the underlying business. In addition, CapitaLand Investment continues to grow its funds under management and retains significant balance-sheet capacity, which management intends to deploy through accelerated divestments, redevelopments, and selective accretive acquisitions, underpinning a constructive medium-term outlook.
According to TipRanks, Tan is a 4-star analyst with an average return of 6.8% and a 60.00% success rate. Tan covers the Real Estate sector, focusing on stocks such as Capitaland India Trust, CapitaLand Investment Limited, and Frasers Property.
In another report released today, UOB Kay Hian also maintained a Buy rating on the stock with a S$3.49 price target.