Brokers' take

CapitaLand | Buy Target price: S$4.25 June 28 close: S$3.13 RHB, June 28

Maintain "buy" with a higher target price of S$4.25, from S$4.20, 36 per cent upside and 4 per cent dividend yield. CapitaLand remains our top large-cap pick.

Its latest acquisition of a Chongqing site is a timely move to replenish its land bank. We believe the recent share price weakness stems from macro concerns on an escalation in global trade tensions which resulted in fund outflows from equities.

Fundamentally, we expect sales and prices across its residential project in China to remain steady. We also expect it to benefit from a continuous build up in its recurring income base, with eight malls opening last year…