As China leaves the worst of its lockdowns behind, the analysts believe the markets have not seen the benefit of CLCT’s new economy exposure, which now comprises close to one-third of its portfolio exposure and has boosted its resilience in portfolio earnings in recent quarters.
DBS Group Research analysts Geraldine Wong and Derek Tan have maintained their “buy” call for CapitaLand China Trust (CLCT) with a lower target price (TP) of $1.45 from $1.55 previously.
Their new TP factors in higher interest rates and a higher risk free rate of 3.5%, and implies a 43% upside.
