Zacks Investment Research upgraded shares of City Developments (OTCMKTS:CDEVY) from a hold rating to a buy rating in a research note published on Friday. The firm currently has $11.00 price objective on the stock.
According to Zacks, “City Developments Limited (CDL) is one of the largest real estate companies of Singapore. By market capitalization, the firm’s income-stable and geographically-diversified portfolio comprises residences, offices, hotels, serviced apartments, integrated developments and shopping malls. CDL has hotel assets in one of the world’s largest hotel groups – its London-listed subsidiary, Millennium & Copthorne Hotels plc (M&C), has over 130 hotels globally, many in key gateway cities. Globally, CDL has developed over 40,000 homes and is one of Singapore’s largest commercial landlords, with one of the biggest land banks amongst Singapore private-sector developers. Building on its track record of over 50 years in real estate development, investment and management, CDL has developed growth platforms in five key international markets – UK, US, China, Japan and Australia. The Company is also leveraging its stable of prime assets and growing its real estate funds management business. “
Shares of City Developments (OTCMKTS:CDEVY) opened at $9.72 on Friday. The company has a market capitalization of $8,838.41, a PE ratio of 21.13, a P/E/G ratio of 5.31 and a beta of 1.09. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.30. City Developments has a fifty-two week low of $5.76 and a fifty-two week high of $9.83.
TRADEMARK VIOLATION NOTICE: “City Developments (CDEVY) Lifted to “Buy” at Zacks Investment Research” was first published by Equities Focus and is owned by of Equities Focus. If you are reading this news story on another website, it was stolen and reposted in violation of U.S. and international trademark and copyright law. The legal version of this news story can be read at https://www.equitiesfocus.com/2018/01/08/city-developments-cdevy-lifted-to-buy-at-zacks-investment-research.html.
About City Developments
City Developments Limited is a real estate operating company with its presence spanning approximately 100 locations in over 30 countries. The principal activities of the Company are those of a property developer and owner, and investment holding. The principal activities of the subsidiaries are those of property developers and owners, hotel owners and operators, a club operator and owner, investment in properties and in shares, property management, project management and provision of consultancy services, hospitality-related information technology, procurement services and provision of laundry services.
Get a free copy of the Zacks research report on City Developments (CDEVY)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for City Developments Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for City Developments and related companies with MarketBeat.com's FREE daily email newsletter.