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UOB Kay Hian raises CICT’s TP to $2.29 following continued enhancement of retail malls

Ashley Lo
Ashley Lo • 3 min read
UOB Kay Hian raises CICT’s TP to $2.29 following continued enhancement of retail malls
CICT's IMM Building, which is undergoing AEI for its retail space of 126,600 square feet. Photo: CICT
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UOB Kay Hian analyst Jonathan Koh has kept his “buy” call on CapitaLand Integrated Commercial Trust (SGX:C38U) (CICT) while raising his target price by 7 cents to $2.29 from $2.22 following the REIT’s continued enhancement of its retail malls.

In his July 16 report, the analyst notes CICT’s latest commencement of asset enhancement initiatives (AEI) at Level 1 of IMM Building.

The retail space which stands at 126,600 sq ft is set to strengthen the mall’s outlet offerings, with its newest additions of a Fila Kids Outlet and Anta Kids Outlet in 1Q2024. 

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