CapitaLand Mall: Strong Market Position and Growth Potential Justify Buy Rating

DBS analyst Geraldine Wong maintained a Buy rating on CapitaLand Mall (CPAMF – Research Report) today and set a price target of S$2.30.

Geraldine Wong’s rating is based on CapitaLand Mall’s robust position in the Singapore market, which is expected to benefit from the country’s stable economic environment. The company’s portfolio, which includes a significant portion of Singapore’s commercial properties, is poised for growth through asset enhancement initiatives and potential acquisitions, supported by its substantial debt capacity.
Additionally, the strong performance of newly acquired assets, such as Ion Orchard Mall, and the positive rental reversions in both retail and office sectors are anticipated to drive growth in distribution per unit. Despite some potential challenges, such as economic downturns or delayed recovery in tourism, the overall outlook remains positive, justifying the Buy rating with a target price of SGD2.30.

According to TipRanks, Wong is a 2-star analyst with an average return of 0.6% and a 50.82% success rate. Wong covers the Real Estate sector, focusing on stocks such as CapitaLand Mall, Mapletree Logistics, and Frasers Centrepoint.