CDL Hospitality: Attractive valuations.
- DBSV maintains its BUY call with a revised TP of $1.51.
- Counter faces negative headlines such as (1) excess new room supply in Singapore, and (2) weakness in its Maldives operations due to soft demand.
- DBSV believes that it still offers compelling long term value – thus rewarding investors who wait (6.5% yield based on 90% payout ratio) for the eventual upturn.
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