Reuters: Hot Stocks: STOCKS NEWS SINGAPORE-Maybank Kim Eng downgrades CapitaCommercial

Reuters: Hot Stocks Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

STOCKS NEWS SINGAPORE-Maybank Kim Eng downgrades CapitaCommercial Apr 23rd 2012, 03:03 Sun Apr 22, 2012 11:03pm EDT Maybank Kim Eng Research cut its rating on CapitaCommercial Trust (CCT) to sell from hold and lowered its target price to S$1.06 from S$1.25. CCT's units were flat at S$1.25, having risen about 18 percent so far this year. Kim Eng said CCT's average office portfolio rent fell to S$7.45 per square foot (psf) in March from S$7.66 psf in December 2011 and said a quick upturn in office demand is unlikely due to ample supply and the prospect of tepid gross domestic product growth. "As we do not foresee an imminent upturn in office rents, current valuations appear rich and the 2012 fiscal year yield of 5.9 percent is insufficient to offset sectoral headwinds." However, UOB Kay Hian raised its target price on CCT to S$1.20 from S$1.15 and kept its hold rating. The broker raised CCT's 2012-2014 distribution per unit forecast by 1-3 percent due to interest savings from debt refinancing. For related company statement, click: link.reuters.com/jan77s 1050 (0250 GMT) (Reporting by Eveline Danubrata in Singapore; eveline.danubrata@thomsonreuters.com) ************************************************************ 10:11 STOCKS NEWS SINGAPORE-OCBC downgrades First REIT OCBC Investment Research cut its rating on healthcare real estate investment trust First REIT to hold from buy due to the strong unit price performance this year, but raised its price target to S$0.935 from S$0.89. First REIT units were down 0.5 percent at S$0.92, having risen 22 percent so far this year. While the hospitals owned by First REIT and operated by its sponsor, Lippo Karawaci, continued to grow with higher revenue in 2011 fiscal year than a year ago, the growth rates of some of these hospitals have eased partly due to the higher base effect, OCBC said. OCBC said organic growth for First REIT would likely be relatively stable in 2012 and it expects base rents for the company's Indonesian assets to rise 2 percent. For related company statement, click: link.reuters.com/han77s 0941 (0141 GMT) (Reporting by Eveline Danubrata in Singapore; eveline.danubrata@thomsonreuters.com) ************************************************************ 08:37 STOCKS NEWS SINGAPORE-Index futures up 0.2 pct Singapore index futures rose 0.2 percent early on Monday, indicating the benchmark Straits Times Index .FTSTI would open higher. Asian shares and the euro steadied on Monday after the IMF secured new funding to prevent the contagion of the euro zone's debt crisis, with investors turning to Chinese data to gauge the market's resilience to risk. 0836 (0036 GMT) (Reporting by Eveline Danubrata in Singapore; eveline.danubrata@thomsonreuters.com) Link this Share this Digg this Email Reprints

You are receiving this email because you subscribed to this feed at blogtrottr.com. If you no longer wish to receive these emails, you can unsubscribe from this feed, or manage all your subscriptions