Lehman cuts CapitaLand price target

Posted on | September 4, 2008

By BUSINESS TIMES

SINGAPORE: Lehman Brothers has cut its 12-month price target for Southeast Asia’s biggest property firm CapitaLand to S$5.30 from S$7, citing concerns over the company’s listed real estate investment trusts (REITs).

Lehman, which kept its “overweight” investment rating on the stock, said CapitaLand may find it harder to buy assets to grow its REITs. The stock last traded at S$4.45. – Reuters

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