Brokers' take

CapitaMall Trust | Sell

April 21 close: S$2.24

Target price: S$1.87

Maybank Kim Eng Research, April 21

WE maintain that six of its 16 malls will soon face stiff competition. About 566,000 square feet of new retail space from Capitol, Marina Square asset enhancement initiatives (AEI), South Beach and Suntec AEI is bound to give Raffles City tenants some bargaining power, we reckon. Funan's foot traffic could also be further diverted as the property is not integrated with its surrounding new developments....

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