Reuters: Hot Stocks: STOCKS NEWS SINGAPORE-OCBC, CIMB ups Starhill target price

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STOCKS NEWS SINGAPORE-OCBC, CIMB ups Starhill target price Oct 30th 2012, 01:24 Mon Oct 29, 2012 9:24pm EDT OCBC Investment Research raised its target price for Starhill Global Real Estate Investment Trust to S$0.84 from S$0.79 and kept its 'buy' rating, citing higher rentals at its Singapore shopping mall Wisma Atria. By 0109 GMT, units of Starhill were unchanged at S$0.79. They have surged 41.7 percent since the start of the year, compared to the FTSE ST Real Estate Investment Trust's 35.3 percent rise. Starhill Global said its distribution per unit for the third quarter rose 11 percent to 1.11 Singapore cents from a year earlier, helped by strong property income growth for its Singapore shopping malls. Property income from Wisma Atria came in stronger than expected, helped by positive rental reversions and full committed occupancy at the mall, which helped offset weakness at its China and Australia properties, OCBC said. CIMB Research also raised its target price for Starhill to S$0.81 from S$0.75 and kept a 'neutral' rating to factor in a lower valuation discount rate of 7.9 percent. However, the brokerage cut its distribution per unit estimates for Starhill due to lower margins in Japan and weaker growth in China. 0912 (0112 GMT) Link this Share this Digg this Email Reprints

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