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

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.