Analyst Lock Mun Yee is tweaking her FY18-20F earnings to factor in the divestment. “We maintain our ‘add’ rating and target price of $2.40,” says Lock in a Thursday report.
SINGAPORE (May 11): CGS CIMB continues to like Frasers Property Limited for its strong recurring income base which makes up 71% of operating PBIT.
FPL recently announced the proposed divestment of 21 logistics facilities in Germany and Netherlands to Frasers Logistics Trust for €316.2 million ($503.3 million).
