Brokers' take

CDL Hospitality Trusts | Buy Target price: S$1.85 Nov 19 close: S$1.48 DBS Group Research, Nov 19

We maintain our "buy" call on CDL Hospitality Trusts (CDReit) with a target price of S$1.85, representing a 24 per cent upside.

While CDReit's results disappointed over the last two quarters, we believe that the projected recovery in the overall Singapore hospitality market, with revenue per available room (RevPAR) growth of 3-5 per cent per annum over the next few years should drive share price higher.