City Developments (OTCMKTS:CDEVY) Lifted to Buy at Zacks Investment Research

City Developments (OTCMKTS:CDEVY) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Friday, January 5th. The firm presently has a $11.00 price target on the stock. Zacks Investment Research‘s target price points to a potential upside of 10.22% from the stock’s previous close.

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. “

City Developments (OTCMKTS:CDEVY) traded down $0.05 during midday trading on Friday, hitting $9.98. The company’s stock had a trading volume of 11,997 shares, compared to its average volume of 5,538. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.22 and a quick ratio of 1.22. City Developments has a 52 week low of $6.37 and a 52 week high of $10.21. The company has a market capitalization of $9,211.22, a PE ratio of 21.70, a P/E/G ratio of 5.54 and a beta of 1.09.

City Developments (OTCMKTS:CDEVY) last announced its earnings results on Thursday, November 9th. The company reported $0.12 earnings per share (EPS) for the quarter. City Developments had a net margin of 16.24% and a return on equity of 5.16%. sell-side analysts predict that City Developments will post 0.55 earnings per share for the current year.

TRADEMARK VIOLATION NOTICE: This story was posted by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are accessing this story on another publication, it was copied illegally and republished in violation of U.S. & international trademark & copyright legislation. The legal version of this story can be accessed at

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

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's FREE daily email newsletter.

Leave a Reply