KGI downgrades Accordia Golf Trust to 'hold' but sees limited downside risks for investors

Singapore

A SERIES of natural disasters, a lack of near-term re-rating catalysts and a more cautious macroeconomic outlook have led broker KGI Securities to downgrade its recommendation on Accordia Golf Trust (AGT) to a "hold", with a revised target price of S$0.61.

The stock closed flat at S$0.49 on Thursday, just half a cent above its 52-week low of S$0.485, according to Singapore Exchange data. It is a far cry from its 52-week high of S$0.71.