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Brokers' take

Published Thu, Apr 23, 2015 · 09:50 PM

mapletree commercial trust

CapitaCommercial Trust | Hold

April 23 close: S$1.705

Target price: S$1.67

OCBC Investment Research, April 23

CCT's balance sheet remains healthy with gearing at 29.9 per cent as at end Q1 FY15 and an average cost of debt of 2.4 per cent. We note that the trust has a debt headroom of S$1.2 billion assuming a 40 per cent gearing, and is holding a call option to buy the 60 per cent remaining interest in CapitaGreen from 2015-17. Our fair value estimate …

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