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NewsCIMB Research ups CMMT target price to RM1.99
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CIMB Research ups CMMT target price to RM1.99
by JF Wed 23 Jan 2013, 12:00
KUALA LUMPUR: CIMB Equities Research has raised the target price of CapitaMalls Malaysia Trust (CMMT) from RM1.91 to RM1.99.
It said on Wednesday CMMT's full-year FY12 core net profit of RM137m was broadly in line with its and consensus expectations (98% of forecast).
CMMT's portfolio size grew to RM2.9bil after it recorded revaluations gains this quarter.
“We retain Outperform, but raise estimates slightly after updating the balance sheet items. This raises our DDM-based target price. The potential of more than 23% increase in East Coast Mall's NLA (net lettable area) is a re-rating catalyst.
“FY13's 4.7% dividend yield should support CMMT's share price in a volatile market,” said CIMB Research.
It said on Wednesday CMMT's full-year FY12 core net profit of RM137m was broadly in line with its and consensus expectations (98% of forecast).
CMMT's portfolio size grew to RM2.9bil after it recorded revaluations gains this quarter.
“We retain Outperform, but raise estimates slightly after updating the balance sheet items. This raises our DDM-based target price. The potential of more than 23% increase in East Coast Mall's NLA (net lettable area) is a re-rating catalyst.
“FY13's 4.7% dividend yield should support CMMT's share price in a volatile market,” said CIMB Research.
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