Brokers' take

CapitaLand Commercial Trust | Buy (maintained) Jan 14 close: S$1.82 Target Price: S$2.11 UOB Kay Hian, Jan 14

Supply of new office space will taper to 1.2 million square foot (sq ft) in 2019 and one million sq ft in 2020, after a deluge of 2.7 million sq ft in 2017 and 1.7 million sq ft in 2018. CapitaLand Commercial Trust is a prime beneficiary of an upturn in office rent as it is the largest landlord in Singapore's CBD with grade-A office buildings accounting for 81 per cent of its portfolio net lettable area. We expect positive rental reversion for Asia Square Tower 2 in H1 2019 and CapitaGreen in H2 2019. Maintain "buy". Target price: S$2.11.

Telecommunications | Neutral (maintained) RHB Research, Jan 14