Thursday, November 15, 2012

CCT

CCT: Barclays says the stock's addition to the MSCI Singapore on Nov 30 is a near-term positive, as it will further improve liquidity; the house continues to like CCT as a key proxy to a recovering prime office sector and think its valuation at 5.0%-5.2% forward dividend yield is still attractive. Expects Singapore's prime office sector to bottom as supply-demand dynamics turn more favorable and it tips CCT to benefit from a below-average prime office supply in 2013-2015, as its 40% JV CapitaGreen will be the only prime Grade-A office building to be completed in 2014. Keeps an Overweight call with TP $1.77 .

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