Singapore Hot Stocks-CapitaLand down after Lehman price cut

SINGAPORE, Sept 3 (Reuters) - Shares of CapitaLand (CATL.SI) slumped by as much as 4.1 percent on Wednesday after Lehman Brothers cut its price target, citing concerns over Singapore's weakening property sector and over lack of potential growth in its listed property trusts.

Lehman cut its 12-month price target to S$5.30 from S$7.0.

At 0141, the firm was trading at $4.31 with nearly 2.3 million shares changing hands.

Lehman, which kept its "overweight" investment rating on the stock, said in a research note that CapitaLand may find it harder to buy assets to grow its REITS.

0143 GMT - Straits Times Index was down 0.61 percent. (Reporting by Brenda Goh; Editing by Saeed Azhar)