Mervin Song and Terence Khi of JP Morgan are the latest to turn positive on this stock. In their July 15 note, they upgraded CDL from “neutral” to “overweight” and increased their target price to $6.85 from $4.85.
More analysts are starting to turn positive on City Developments (CDL) after downgrades earlier this year, as the property and hospitality company’s public boardroom dispute further weighs down its lacklustre operating results.
According to Bloomberg data, out of the 14 analysts with active coverage on this stock, seven have “buy” calls, versus four “hold” and three “sell”. The most bullish is Brandon Lee of Citi Research, whose target price is $9.51. The most bearish is Adrian Loh of UOB Kay Hian, who values CDL at $4.60.
