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GOLDMAN Sachs Equity Research and Morgan Stanley Research have started coverage on CapitaLand Investment Management (CLI) CapitaLandInvest: 9CI +3.8% at " buy" and " overweight" with the respective price targets of S$3.64 and S$3.75 since the real estate investment manager commenced trading on the Singapore Exchange on Monday.
In an initiation report dated Sept 21, Goldman analysts said their target price - which is 1.9 times their projection for FY2022 net asset value - is justified as return on equity (ROE) is projected to improve to 7 per cent over FY2022 to FY2023, versus the 4 per cent average over the past three years.
This valuation also remains significantly below CLI' s peer average of 2 times, they noted.
Goldman Sachs believes CLI is set to benefit from improved earnings visibility and margins post CapitaLand' s restructuring. This is due to the absence of a more volatile development segment, and the " broadly recurring" nature of the company' s other earnings from management fees and real estate investment.
" Coupled with operational improvements and recovery from Covid-19, we expect higher PATMI (profit after tax and minority interest) margins of 55 per cent in FY2022 to FY2023, versus the five-year average of 12 to 20 per cent," said the analysts.
Further catalysts include funds under management growth, effective capital redeployment and operational improvement, they added.
I would expect an announcement today or tomorrow or weekend
that CLI is added to ST Index and to MSCI indexes
that CLI is added to ST Index and to MSCI indexes
r1hell ( Date: 22-Sep-2021 15:15) Posted:
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GOLDMAN Sachs Equity Research and Morgan Stanley Research have started coverage on CapitaLand Investment Management (CLI) CapitaLandInvest: 9CI +3.8% at " buy" and " overweight" with the respective price targets of S$3.64 and S$3.75 since the real estate investment manager commenced trading on the Singapore Exchange on Monday.
In an initiation report dated Sept 21, Goldman analysts said their target price - which is 1.9 times their projection for FY2022 net asset value - is justified as return on equity (ROE) is projected to improve to 7 per cent over FY2022 to FY2023, versus the 4 per cent average over the past three years.
This valuation also remains significantly below CLI' s peer average of 2 times, they noted.
They are collecting
Thats why strong - to make retailers throw
Thats why strong - to make retailers throw
r1hell ( Date: 22-Sep-2021 14:57) Posted:
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$3.28 seller dam strong...Keep selling at this lvl
BIG MISTAKE that retailers will now make on CLI ...
They will assume that 3.29 is the top for CLI and will
sell to the buyer or queue to sell - this is a massive mistake
CLI has just started and the next temporary stop off will be 3.35
before heading to 3.70
They will assume that 3.29 is the top for CLI and will
sell to the buyer or queue to sell - this is a massive mistake
CLI has just started and the next temporary stop off will be 3.35
before heading to 3.70
For those still trying to understand the new Capland Investment ......
CapitaLand Investment Ltd., which made its debut in the city&rsquo s stock market this week, is one of the world&rsquo s largest real-estate investment managers, modelled along Blackstone Inc. Gone are the cranes and the excavators of what was earlier CapitaLand Ltd. Together with land parcels and semi-finished buildings, the development activity has been spun off into a privately held firm.
A previous generation of Singaporean investors swore by banks and builders: The former transformed short-term deposits into long-term loans, the latter transfigured reclaimed ocean land into shopping centers and condominiums. But millennials are impatient. A development cycle of three to five years &mdash and lumpy sales &mdash have meant a perennial discount to net asset value even for a highly efficient firm like CapitaLand.
Hence the rebirth as an asset manager. CapitaLand Investment has stakes in six publicly traded real-estate investment trusts, a very popular asset class in the Singapore market it also has investments in more than 20 private real-estate equity funds. The new entity can keep adding to this S$78 billion (US$58 billion) of funds under management to earn a steadier stream of revenue for shareholders than it could as a developer.
Then there are its 120,000 &ldquo keys,&rdquo a fancy way to describe ownership of revenue-generating units such as longer-stay serviced apartments. That&rsquo s another S$28 billion in assets. Throw in a pan-Asian footprint that includes China and India, and a first right of refusal on new structures being erected by the privately owned CapitaLand Development Ltd., and this Blackstone model can win.
CapitaLand Investment Ltd., which made its debut in the city&rsquo s stock market this week, is one of the world&rsquo s largest real-estate investment managers, modelled along Blackstone Inc. Gone are the cranes and the excavators of what was earlier CapitaLand Ltd. Together with land parcels and semi-finished buildings, the development activity has been spun off into a privately held firm.
A previous generation of Singaporean investors swore by banks and builders: The former transformed short-term deposits into long-term loans, the latter transfigured reclaimed ocean land into shopping centers and condominiums. But millennials are impatient. A development cycle of three to five years &mdash and lumpy sales &mdash have meant a perennial discount to net asset value even for a highly efficient firm like CapitaLand.
Hence the rebirth as an asset manager. CapitaLand Investment has stakes in six publicly traded real-estate investment trusts, a very popular asset class in the Singapore market it also has investments in more than 20 private real-estate equity funds. The new entity can keep adding to this S$78 billion (US$58 billion) of funds under management to earn a steadier stream of revenue for shareholders than it could as a developer.
Then there are its 120,000 &ldquo keys,&rdquo a fancy way to describe ownership of revenue-generating units such as longer-stay serviced apartments. That&rsquo s another S$28 billion in assets. Throw in a pan-Asian footprint that includes China and India, and a first right of refusal on new structures being erected by the privately owned CapitaLand Development Ltd., and this Blackstone model can win.
Thank god decided to keep Capitaland before suspension last week. Now got divident, CITL shares + same amount of CLI shares. bro' s any TP for this?
Next small resistance for CLI will be
3.35
3.35
tguanhoc ( Date: 22-Sep-2021 10:59) Posted:
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Every CapitaLand share is now worth
$950 cash + 3260 ( CLI current price ) + $321 (CICT now 208) = $4531
$950 cash + 3260 ( CLI current price ) + $321 (CICT now 208) = $4531
From the sheer size of the volume traded, it is obvious that the price of CLI is still going up unstoppable.
I think the market is expecting the NTA of CLI to be about 1.3 times at the moment, i.e.,between $3.60 to $3.70 before it stabilises. The next quarterly report in Oct/Nov will determine the next threshold for CLI.
When Evergrande' s debt crisis is resolved, then the global stock market would be able to stabilise.
There seems to be a glimmer of light at the end of Evergrande' s dark tunnel. I remain hopeful their can be resolved this week, i.e., debt crisis.
Board members are given a window of opportunity to buy CLI shares. That' s the rule.
A juicy wagyu steak with Russian Blue Whale caviar.
He is confident of the future of CLI. This saying has some validity: " Buy when Insiders are buying"
Something hot must be cooking for him to fork out more than $2m to buy CLI.
CapitaLand Investment chairman Ko snaps up $2 million worth of shares on trading debut day
Miguel Ko, chairman of CapitaLand Investment, has snapped up just over $2 million worth of shares in the company on its trading debut.
On Sept 20, Ko paid $2.9349 each for 700,000 shares.
CLI shares started trading by way of introduction on Sept 20, following the restructuring of CapitaLand into two parts: a privately-held development business, and CLI, the publicly listed real estate management platform.
Prior to this, Ko, a non-executive, non-independent director, held just 3,679 shares. He was appointed to the board on June 2.
CLI Target Price
GS : $3.64
UOBKH : $3.64
HSBC : $3.90
MS : $3.75
GS : $3.64
UOBKH : $3.64
HSBC : $3.90
MS : $3.75