Lim and Tan:
CDL is currently trading at a 25% discount to its historical NAV and we expect an even wider 40-50% discount to its RNAV as the company does not revalue its assets to current market values. We maintain our “BUY ON WEAKNESS” recommendation on as investors become more jittery about the negative impact from the government’s cooling measures implemented last year and also trade tensions between the US and China.
US inflation looks poised to rise in the future.
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The latest 1-year inflation expectation had spiked to 3.8%.
This spike could be caused by the Iran war and the US consumers were
expecting higher inflatio...
2 hours ago
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