No catalysts in sight for CityDev as new housing initiatives threaten to curb buying sentiment: Jefferies
Michelle Zhu • • 3 min read
SINGAPORE (Aug 21): Jefferies is reiterating its “hold” call on City Developments (CDL) with a price target of $11, which is based on a 22% discount to a RNAV of $14, with the view that there are no immediate catalysts for the stock.
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SINGAPORE (Aug 21): Jefferies is reiterating its “hold” call on City Developments (CDL) with a price target of $11, which is based on a 22% discount to a RNAV of $14, with the view that there are no immediate catalysts for the stock.
The research house remains cautious on developers considering the government’s recent announcement of new public housing initiatives, namely the Voluntary Early Redevelopment Scheme (VERS) and a second version of the Home Improvement Programme (HIP II).
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