City Dev - up 4.3% this week on surging volumes... where might it go from here?

🎖This week, $CityDev(C09.SI)$ has advanced 4.5%, far outperforming the benchmark's 1.7% increase. This takes the stock's year to date increase to 45%, making it the 7th best performing index stock as of yesterday's close.

✳Macquarie's City Dev call warrants $CityDev MBeCW260130(SCEW.SI)$ (https://warrants.com.sg/tools/HistoricalPerformance/SCEW) is up 33.3% to SGD 0.056 while $CityDev MBeCW260330(VY2W.SI)$ (https://warrants.com.sg/tools/HistoricalPerformance/VY2W) has increased 30.3% to SGD 0.043 this week on City Dev's move (as of yesterday's close)

✴Meanwhile, trending City Dev put warrant $CityDev MBePW260330(KBPW.SI)$ (https://warrants.com.sg/tools/HistoricalPerformance/KBPW) has fallen 30% to SGD 0.021

📊City Dev's weekly gains has come from the last two days of rally. Notably, the stock rallied 3% on Tuesday - the most in 13 weeks on trading volumes that according to Bloomberg, were six times higher than its 20-day average

🏘The day before, Bloomberg Intelligence commented that Singapore office rents look set to rise 2-3% in 2025 before similar growth of up to 3% in 2026. Occupancy can stay high due to broad-based demand, a flight to quality and limited supply in the core central business district. But macroeconomic uncertainty will cap rent growth.

🗳Analysts polled by Bloomberg have eight buy, three hold, and three sell recommendations, with an average price target of $8.11 on the stock

👨‍🏫On 28 October, we shared SGX Academy Trainer Joey Choy's view on City Dev shares on his One Good Trade Live show. Those who missed out may wish to watch it here: https://www.youtube.com/watch?v=Q6Yimr7rFh0&t=5s