DBS Group Research has upgraded CapitaLand Retail China Trust (CRCT) to buy from hold with $1.60 as it believes the stock is oversold following the recent price correction.
While CRCT will face headwinds in the form of a weaker average RMB exchange rate, impact from higher property taxes in Beijing and an increase in interest rates over the next few quarters, we believe these risks
have largely been priced in,” says analyst Mervin Song in a recent report.
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