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Analysts maintain 'buy' on Ascott Residence Trust with TP of at least $1.21, as recovery 'underway'

Felicia Tan
Felicia Tan7/29/2021 3:43 PM GMT+08  • 3 min read
Analysts maintain 'buy' on Ascott Residence Trust with TP of at least $1.21, as recovery 'underway'
As at 3.41pm, units in ART are trading flat at $1.03, or 0.92 times P/BV, according to CGS-CIMB’s estimates.
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Analysts from CGS-CIMB Research, Maybank Kim Eng and OCBC Investment Research (OIR) have kept “add” or “buy” Ascott Residence Trust (ART) after the REIT reported 95% higher distribution per stapled security (DPS) of 2.045 cents for the 1HFY2021 ended June.

CGS-CIMB’s Eing Kar Mei and Lock Mun Yee have increased their target price estimate on ART to $1.22 from $1.20 previously, while Maybank Kim Eng’s Chua Su Tye has upped his target price estimate to $1.30 from $1.25 previously.

OCBC Investment Research analyst Chu Peng, meanwhile, is the exception as her fair value estimate is reduced to $1.21 from $1.22 previously.

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