Analysts from DBS Group Research and UOB Kay Hian are positive on Ascendas REIT (A-REIT) after the REIT announced that it will redevelop 1 Science Drive in a joint venture with CapitaLand Development (CLD) on Nov 15.

See: Ascendas REIT to jointly develop 1 Science Park Drive with CapitaLand Development for $883 mil

DBS analysts Dale Lai and Derek Tan have kept “buy” with an unchanged target price of $4 as they deem the redevelopment a “long-term catalyst”.

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