KUALA LUMPUR: Hwang DBS Vickers Research said investors should seek shelter in the safe havens like KLCC Property as weak sentiment for the property sector could push valuations down by 23%, although sector fundamentals are stronger than in 2008.
It said on Friday, Oct 7 that property demand was weakening while tightening policy would pour oil into the fire.
'Buy investment holding companies e.g. KLCCP (upgrade to Buy) and firmed MGO targets e.g. SP Setia,' it said.
HDBSVR said it has a Buy on KLCCP at RM3.15 and target price of RM3.70. The prized assets in KLCCP were long-term leases and blue-chip tenants.
'Expect strong cash flows post-completion of Lot C by end-2011 with potential capital management
'Upgrade to Buy for 17% upside to unchanged TP of RM3.70, strong earnings visibility and decent yield of 4%,' it said.
It said on Friday, Oct 7 that property demand was weakening while tightening policy would pour oil into the fire.
'Buy investment holding companies e.g. KLCCP (upgrade to Buy) and firmed MGO targets e.g. SP Setia,' it said.
HDBSVR said it has a Buy on KLCCP at RM3.15 and target price of RM3.70. The prized assets in KLCCP were long-term leases and blue-chip tenants.
'Expect strong cash flows post-completion of Lot C by end-2011 with potential capital management
'Upgrade to Buy for 17% upside to unchanged TP of RM3.70, strong earnings visibility and decent yield of 4%,' it said.
No comments:
Post a Comment