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.

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