Hot stock: CapitaLand shares sink 4.7% after profit warning; analysts remain positive
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SHARES in CapitaLand took a beating on Monday, after the property group on Friday warned it would report a loss for the year ended Dec 31, 2020. But analysts seem to be maintaining their recommendations on the counter, which have largely been positive.
RHB analyst Vijay Natarajan told The Business Times (BT) on Monday: "We are not overly concerned about CapitaLand's full-year loss guidance as these are mainly driven by fair value and impairment losses, which are non-cash in nature."
Core operating profit is expected to remain resilient and profitable at S$740-846 million, or 20 per cent to 30 per cent lower than in FY19, Mr Natarajan added. This is in line with his expectations.
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