Furthermore, they note that FCT’s tenant sales “continue to surprise” at about 95% of normalised levels across Phase 2 heightened alert (P2HA) months, and a trough of about 80% of normalised levels.
Analysts from DBS Group Research and Maybank Kim Eng have maintained their “buy” calls on Frasers Centrepoint Trust (FCT), with both brokerages handing the stock target prices of $2.90.
DBS analysts Geraldine Wong and Derek Tan write that, “In the face of retail headwinds, we remain convinced that FCT’s portfolio of suburban malls is well-anchored against the recent tightening measures.”
