“We maintain our view that Frasers Hospitality Trust (FHT) offers compelling value at 0.7x P/NAV, which is below replacement costs. The current price which is 40% below pre-Covid-19 level remains an attractive level for investors for an overlooked stock. Prospective FY2022F yields of approximately 8.0% is attractive,” say Tan and Wong.
A rebound is underway for Frasers Hospitality Trust (FHT), with vaccine distribution anticipated in 2021, say DBS Group Research analysts Derek Tan and Geraldine Wong in a Nov 26 note.
Tan and Wong are maintaining their “buy” call on the trust with a raised target price of 70 cents, up from 65 cents.
