City Developments (OTCMKTS:CDEVY) Hits New 12-Month High – Should You Buy?
by Danessa Lincoln · The Markets DailyCity Developments Ltd. (OTCMKTS:CDEVY – Get Free Report)’s stock price reached a new 52-week high on Monday . The company traded as high as $7.83 and last traded at $7.69, with a volume of 6010 shares trading hands. The stock had previously closed at $7.47.
Wall Street Analysts Forecast Growth
Separately, Dbs Bank upgraded shares of City Developments to a “moderate buy” rating in a report on Tuesday, November 25th. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the company presently has an average rating of “Buy”.
Read Our Latest Stock Analysis on CDEVY
City Developments Stock Up 2.8%
The business’s 50-day moving average price is $6.49 and its 200-day moving average price is $5.73.
About City Developments
City Developments Limited (OTCMKTS: CDEVY) is a Singapore-based real estate developer founded in 1963. As one of the country’s largest and most established property companies, it operates as part of the Hong Leong Group of Companies. Over the past five decades, City Developments has grown from its local beginnings into an international developer with a diversified portfolio spanning residential, commercial and mixed-use projects.
The company’s core activities include property development, investment and management.