Reuters: Hot Stocks: STOCKS NEWS SINGAPORE-OCBC raises CapitaMalls target price

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STOCKS NEWS SINGAPORE-OCBC raises CapitaMalls target price Jul 3rd 2012, 01:17 Tweet Share this Email Print Mon Jul 2, 2012 9:17pm EDT OCBC Investment Research raised its target price of CapitaMalls Asia Ltd to S$1.79 from S$1.76 and kept its 'buy' rating, citing stronger valuations for the shopping mall developer's China assets and listed entities. By 0103 GMT, CapitaMalls shares were 0.6 percent higher at S$1.59, and have surged about 40 percent since the start of the year, compared to the Straits Times Index's 10 percent gain. CapitaMalls said on Monday it had set up a $1 billion private equity fund. OCBC said the fund would be an option for capital recycling going forward, and could be a potential joint venture partner for future developments, giving CapitaMalls bigger scope for capital allocation for acquisitions. "CapitaMalls' valuation remains undemanding, and we see significant upside as its asset pipeline transitions into an income-generating portfolio over 2012," OCBC said in a report. 0906 GMT (0106 GMT) To read related story, click (Reporting by Charmian Kok in Singapore; charmian.kok@thomsonreuters.com) Related Quotes and News Company Price Related News Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (0) Be the first to comment on reuters.com. Add yours using the box above.

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