KUALA LUMPUR: RHB Research has upgraded CapitaMalls Malaysia Trust (CMMT) to Neutral from Sell with a target price of RM1.42 from RM1.35 after increasing its FY14 DPU estimate marginally by 1% and rolling over its valuations to FY14.
“We believe that all negative news has now been priced in. CMMT currently trades at a decent net yield of about 6%, and the completion of ECM’s enhancement could lead to potential earnings upside,” it said.
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