0759 GMT - CapitaLand Investment is likely targeting new fund launches and inorganic growth opportunities, OCBC Investment Research's research team says in a note as they maintain the stock's buy rating. Fee income-related business will probably be management's key focus as fees earned tend to be recurring in nature and extra fees can be generated through various ways, the team says. Hence, the company will seek to seed new funds and will typically commit its own capital to show alignment of interest with partners, the team says. However, OCBC cuts its forecast for 2024 operating profit after tax and minority interests for CapitaLand Investment by 21% to reflect factors including the company's 2023 results, and trims the stock's fair value estimate to S$3.89 from S$4.02. (ronnie.harui@wsj.com)
(END) Dow Jones Newswires
March 01, 2024 02:59 ET (07:59 GMT)
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