SINGAPORE (Oct 27): DBS is keeping its “hold” recommendation for Ascendas India Trust with a target price of 90 cents.

In a Tuesday report, analyst Mervin Song says while a-iTrust as expected delivered another strong set of results with 2Q DPU up 8% to 1.37 cents and its long-term outlook remains bright, “we believe this has largely been priced in given the trust trades at +1SD P/BV of 1.4x”.

Over the past year, a-iTrust has announced several developments including the construction of The V, a new 408k-sqft IT building, as well as the acquisitions of CyberVale, aVance3 and BlueRidge Phase II.

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