CapitaLand China Trust - OCBC Investment Research 2024-10-01: Benefitting From A Rebound In China’s Risk Sentiment

• CapitaLand China Trust's share price rallied sharply last week after the Chinese government announced a coordinated stimulus blitz.

CapitaLand China Trust'’s share price gained 14% last week

• - Read this at SGinvestors.io -

We reassess our model and raise our fair value estimate to S$0.885

• We keep our assumptions unchanged ahead of CapitaLand China Trust’s 3Q24 business update, which will likely take place in late October to early November. However, our FY24 and FY25 distribution per unit (DPU) forecasts are nudged upwards by 0.2% and 0.4% to 6.14 and 6.33 Singapore cents, respectively, due to a higher share price input which reduces the issuance of new units for management fees and hence the weighted average shares in issue.
• - Read this at SGinvestors.io -
• All things considered, our fair value estimate for CapitaLand China Trust lifts from S$0.815 to S$0.885.

Upside looks more modest following last week’s rally

• Read more at SGinvestors.io.

Ada Lim OCBC Investment Research | https://www.iocbc.com/ 2024-10-01 SGinvestors.io

---