City Developments Has Several Catalysts in Its Favor -- Market Talk

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City Developments Has Several Catalysts in Its Favor -- Market Talk

Dow Jones2023-03-06

0729 GMT - City Developments' near-term outlook seems bright thanks to a number of potential catalysts, including improving transaction volumes in Singapore's residential market, Daiwa Capital analysts David Lum and Celine Tan say in a research note. The property developer also has a relatively healthy launch pipeline of 2,100 units over 2023-2024, and seems capable of boosting margins with the help of its Newport Residences project that is due to launch in 1H and likely has a low landbank cost, the analysts say. Daiwa maintains a buy rating on the stock, citing an attractive discount to net asset value, but cuts its target price to S$9.56 from S$10.03 after 2H 2022 net profit missed expectations. Shares are 0.7% lower at S$7.54. (justina.lee@wsj.com)

(END) Dow Jones Newswires

March 06, 2023 02:29 ET (07:29 GMT)

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·2023-03-06
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Daiwa maintains a buy rating on the stock, citing an attractive discount to net asset value, but cuts its target price to S$9.56 from S$10.03 after 2H 2022 net profit missed expectations. Shares are 0.7% lower at S$7.54. (justina.lee@wsj.com) \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  March 06, 2023 02:29 ET (07:29 GMT)\n</p>\n<p>\n  Copyright (c) 2023 Dow Jones &amp; Company, Inc.\n</p>\n</font>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>City Developments Has Several Catalysts in Its Favor -- Market Talk</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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The property developer also has a relatively healthy launch pipeline of 2,100 units over 2023-2024, and seems capable of boosting margins with the help of its Newport Residences project that is due to launch in 1H and likely has a low landbank cost, the analysts say. Daiwa maintains a buy rating on the stock, citing an attractive discount to net asset value, but cuts its target price to S$9.56 from S$10.03 after 2H 2022 net profit missed expectations. Shares are 0.7% lower at S$7.54. (justina.lee@wsj.com) \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  March 06, 2023 02:29 ET (07:29 GMT)\n</p>\n<p>\n  Copyright (c) 2023 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BK6098":"多样化房地产活动","BK6512":"房地产股","C09.SI":"城市发展","SG9999000475.SGD":"Aberdeen Standard Singapore Equity SGD","SG9999000343.SGD":"Schroder Singapore Trust A Dis SGD","SG9999016042.SGD":"Schroder Singapore Trust A Acc SGD"},"source_url":"http://dowjonesnews.com/newdjn/logon.aspx?AL=N","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2317149356","content_text":"0729 GMT - City Developments' near-term outlook seems bright thanks to a number of potential catalysts, including improving transaction volumes in Singapore's residential market, Daiwa Capital analysts David Lum and Celine Tan say in a research note. 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