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Ascendas India Trust kept at 'buy' by DBS on modern warehouse expansion

PC Lee
PC Lee5/3/2019 02:23 PM GMT+08  • 2 min read
Ascendas India Trust kept at 'buy' by DBS on modern warehouse expansion
SINGAPORE (May 3): DBS Group Research is maintaining its “buy” call on Ascendas India Trust (a-iTrust) given its expansion into modern warehouses
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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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