Key Indices
Top Stories
Company Update | City Developments (CIT SP/BUY/S$8.09/Target: S$11.85)
- CIT’s upcoming strategic review announcement on 28 Sep 26 could provide more clarity on asset monetisation or value-unlocking strategies, which could optimise its balance sheet, lower net-debt-to-equity ratio and boost longterm ROE. These, together with the upcoming launch of the 570-unit Lucerne Grand, could catalyse share price performance. We lift our RNAV and target price to S$16.92 and S$11.85, respectively. Maintain BUY for CIT’s attractive valuation, with the stock trading at a huge 52% discount to RNAV and 0.7x P/B.
Market Spotlight
- US stocks were higher on Monday. All indexes rose as the communication services, information technology and consumer discretionary sectors gained. There were more advancers than decliners on both the NYSE and the Nasdaq.
- The FSSTI rose 19.12pt to 5,675.23, on the back of strength in OCBC, DBS and SIA, with mid-cap indices falling while small-cap indices rose with a broad market advance on S$1.63b turnover.
Technical Analysis
Hongkong Land Holdings (HKL SP)
- Trading Buy Range: US$8.62-8.63
Parkway Life Real Estate Investment Trust (PREIT SP)
- Trading Sell Range: S$4.00-4.01
Top Stories
Company Update | City Developments (CIT SP/BUY/S$8.09/Target: S$11.85)
- CIT’s upcoming strategic review announcement on 28 Sep 26 could provide more clarity on asset monetisation or value-unlocking strategies, which could optimise its balance sheet, lower net-debt-to-equity ratio and boost longterm ROE. These, together with the upcoming launch of the 570-unit Lucerne Grand, could catalyse share price performance. We lift our RNAV and target price to S$16.92 and S$11.85, respectively. Maintain BUY for CIT’s attractive valuation, with the stock trading at a huge 52% discount to RNAV and 0.7x P/B.
Market Spotlight
- US stocks were higher on Monday. All indexes rose as the communication services, information technology and consumer discretionary sectors gained. There were more advancers than decliners on both the NYSE and the Nasdaq.
- The FSSTI rose 19.12pt to 5,675.23, on the back of strength in OCBC, DBS and SIA, with mid-cap indices falling while small-cap indices rose with a broad market advance on S$1.63b turnover.
Technical Analysis
Hongkong Land Holdings (HKL SP)
- Trading Buy Range: US$8.62-8.63
Parkway Life Real Estate Investment Trust (PREIT SP)
- Trading Sell Range: S$4.00-4.01
Key Indices
IMPORTANT NOTICE - DISCLOSURES AND DISCLAIMERS
This report is provided subject to, and must be read together with, the full Disclosures / Disclaimers available at this link, which are incorporated by reference into this report. In particular, this report is intended for general circulation and informational purposes only and does not constitute personal investment advice or a recommendation to buy or sell any investment product or security. You should independently evaluate the information and, where necessary, seek advice from a qualified financial adviser regarding the suitability of any investment. Analyst certifications required under applicable regulations, including SEC Regulation AC (where relevant), are included in this report. By accessing, receiving or using this report, you acknowledge that you have read, understood and agreed to be bound by the Disclosures / Disclaimers, as may be amended, supplemented or updated from time to time.
