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OCBC, CGS-CIMB lower targets for CDL, cut earnings estimates

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OCBC Investment Research has lowered its fair value estimate of City Developments Ltd (CDL) to S$10.64 from S$10.74 previously, while CGS-CIMB has lowered its target price on the counter to S$10.10 from S$10.13. Read more at The Business Times.

Besides redeveloping Liang Court into a mixed-used integrated project, CDL is also planning to redevelop Fuji Xerox Towers and Central Mall.

OCBC Investment Research has lowered its fair value estimate of City Developments Ltd to S$10.64 from S$10.74 previously, while CGS-CIMB has lowered its target price on the counter to S$10.10 from S$10.13.

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