SINGAPORE (July 8): CGS-CIMB Research is upgrading its recommendation on ARA LOGOS Logistics Trust (ALOG), formerly Cache Logistics Trust, to “add” from hold with a slightly increased target price of 71.3 cents from 71.0 cents previously.

This came following lead analyst Eing Kar Mei’s recent investor call with ALOG, which revealed that the trust has not seen a large impact from Covid-19 and the $2.5 million dividend retained in 1Q20 should be sufficient.

“With the past challenges behind the trust and timely onboarding of LOGOS, we believe ALOG is in a much better position to grow going forward,” says Eing in a Tuesday report.

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