SINGAPORE (May 3): DBS Group Research is maintaining its “buy” call on Ascendas India Trust (a-iTrust) given its expansion into modern warehouses
DBS says the expansion warrants a premium not only from the boost to a-iTrust’s near-term DPU outlook but more importantly, the ability to accelerate medium-term earnings growth.
“Compared to consensus, we have a higher target price of $1.40, pegged at a 10% premium to a-iTrust’s adjusted NAV per unit of $1.31,” says lead analyst Mervin Song.
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