While most developers have re-rated to an average of 0.9x P/NAV following the government’s recent tweaking of property measures, FCL has lagged behind.
SINGAPORE (April 7): DBS is maintaining its “buy” on Frasers Centrepoint Limited (FCL) with a target price at $2.00 for its attractive valuations and 5% dividend yield which is one of the highest among developers.
In a Friday report, analyst Rachel Tan says FCL is trading at 0.7x P/NAV and 12x FY17F PE.
