DBS Group Research analysts Rachel Tan, Geraldine Wong and Derek Tan have maintained their “buy” recommendation on CapitaLand Integrated Commercial Trust (CICT) with a raised target price of $2.50 from $2.40 previously as they view the REIT as a serious bargain.
Calling it “big, cheap and fresh”, the combined entity following the merger of CapitaLand Mall Trust (CMT) and CapitaLand Commercial Trust (CCT), is now trading at attractive valuations of close to 1.0x price/net asset value (P/NAV).
