However, DBS is positive on FCT’s acquisition of stakes in PGIM’s AsiaRetail fund and Waterway Point as this should transform the group’s growth profile entirely.
SINGAPORE (June 24): DBS Group Research is reiterating its “buy” call on Frasers Centrepoint Trust (FCT) with a higher target price of $2.85, from $2.60 previously.
Currently, all of FCT’s properties are suburban malls, which have shown to be resilient across market cycles.
