Aug 19 2009, 05:20 PM
QUOTE(zWinceZz @ Aug 19 2009, 05:16 PM)
This is a bad news for Espee taken from one of the people posting in channelnewsasia market talk forum...
0247 GMT [Dow Jones] CapitaLand (C31.SG) outperforms market tad as investors hope deployment of S$1 billion of capital to China, Vietnam and Ascott serviced residence businesses may lead to accretive deals. Shares +0.3% at S$3.64 vs STI off 0.3%, though thin traded volume suggests near-term upside likely capped at 10-day moving average of S$3.68. "The announcement provides a roadmap for capital redeployment following the rights issue earlier this year," says Deutsche Bank. Adds, "while we are disappointed that no acquisitions have been announced to date, this could be a prelude to a more aggressive stance on acquisitions at the 3 businesses." But says investments will likely be less earnings accretive than previously hoped as distressed opportunities are now more limited due to stabilization of financial markets. Maintains Sell rating with unchanged S$3.23 target price. (KIG)
Espree going to take aspirin liow. I bought at 3.71 0247 GMT [Dow Jones] CapitaLand (C31.SG) outperforms market tad as investors hope deployment of S$1 billion of capital to China, Vietnam and Ascott serviced residence businesses may lead to accretive deals. Shares +0.3% at S$3.64 vs STI off 0.3%, though thin traded volume suggests near-term upside likely capped at 10-day moving average of S$3.68. "The announcement provides a roadmap for capital redeployment following the rights issue earlier this year," says Deutsche Bank. Adds, "while we are disappointed that no acquisitions have been announced to date, this could be a prelude to a more aggressive stance on acquisitions at the 3 businesses." But says investments will likely be less earnings accretive than previously hoped as distressed opportunities are now more limited due to stabilization of financial markets. Maintains Sell rating with unchanged S$3.23 target price. (KIG)
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