Capitaland and CapitaMall Asia: jointly won a land tender for a 817,000-sqm mixed-development site in Chongqing, China, for Rmb6,536m.
DMG maintain Buy on CAPL, TP $3.52, acquisition is expected to enhance CAPL’s RNAV per share by 2¢ based on initial estimates (14% IRR). Continue to like CAPL for its active capital deployment into potential RNAV accretive developments, stock is trading at attractive 42% to RNAV.
JP Morgan remain O/w on CAPL, TP $2.80, Key downside risks include
1) failure of the group to deploy its potential debt financed investment capacity into accretive investments and
2) continued aversion to return cash to shareholders in terms of special dividend.
Daiwa reiterate Buy on CMA, TP $1.47, Marginally accretive based on CO. guidance.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment