0644 GMT - City Developments' valuation remains compelling even though its shares have gained 15% year to date, says DBS Group Research's Tabitha Foo in a note. The Singapore property company's latest residential launch sales beat her expectations, marking a strong start to the year. Strong residential sell-through rates enhance CDL's income visibility and are likely to serve as a catalyst for its shares, the analyst says. The company's valuations at 0.5X price-to-revalued-net-asset-value ratio remain attractive for a large-cap developer, she adds, retaining a buy rating and S$11.80 target price on CDL. Shares rise 0.65% to S$9.34. (megan.cheah@wsj.com)
(END) Dow Jones Newswires
February 02, 2026 01:44 ET (06:44 GMT)
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