CGS International Research analyst Lock Mun Yee is keeping "add" on CapitaLand Investment (CLI) with an unchanged target price of $4.30, noting things were "business as usual" in 1QFY2025 ended March 31.
"We like CLI's strong recurring fee-income base, which provides good income visibility, and its asset-light fund management model," writes Lock in a May 2 note.
The market seems to think differently, with selling pressure forcing CLI shares down nearly 8% on May 2, the first trading day after CLI's results were released on April 30.
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