SINGAPORE (Aug 1): CIMB Research is maintaining its “add” call on Frasers Logistics & Industrial Trust (FLT) with an unchanged $1.10 target price estimate, after its manager last week declared 3Q results in line with the research house’s estimates.
See: Frasers Logistics Trust beats IPO forecast for fourth straight quarter with 3Q DPU of 1.75 cents
In a Monday report, analysts Yeo Zhi Bin and Lock Mun Yee note that the positive variance versus the trust’s initial public offering (IPO) forecast continued to stem from lower interest savings of 2.8% per annum versus the forecasted 3.4%, whereas its Martin Brower acquisition required lower-than-expected debt.
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