SINGAPORE (Jan 28): RHB Research and Maybank Kim Eng are maintain their “buy” ratings on Cache Logistics Trust (CLT) with the respective price targets of 81 cents and 85 cents, after the trust’s 4Q18 DPU dipped 5.9% to 1.502 cents due to lower net property income (NPI).
OCBC Investment Research, on the other hand, has downgraded its call from “buy” to “hold” with the downward revision of its fair value estimate to 76 cents from 78 cents previously.
In a Monday report, RHB analyst Vijay Natarajan says he continues to remain positive on CLT’s prospects despite lowering FY19-21F DPU estimates by 3-5% to factor in lower occupancies and lower rent growth in the latest quarter.
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