In a report released yesterday, Lock Mun Yee from CGS-CIMB reiterated a Buy rating on Frasers Property, with a price target of S$1.41.
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Lock Mun Yee has given his Buy rating due to a combination of factors that highlight Frasers Property’s strategic approach and market positioning. The company is actively executing its strategy of ‘creating, sustaining, and unlocking value,’ which aims to provide resilience and consistent returns to shareholders. A significant portion of the company’s profit before interest and taxes is derived from recurring sources, ensuring a stable income base.
Furthermore, Frasers Property’s industrial and logistics segment in Thailand is experiencing strong demand, which is a positive indicator of future growth potential. The company’s asset recycling activities are expected to enhance its return on equity over the medium term, while also helping to reduce its net debt-to-equity ratio. These strategic initiatives, coupled with robust demand in key segments and potential for increased dividends, underpin the Buy rating assigned by Lock Mun Yee.
In another report released on November 17, DBS also maintained a Buy rating on the stock with a S$1.26 price target.
FSRPF’s price has also changed moderately for the past six months – from S$0.815 to S$1.050, which is a 28.83% increase.