SINGAPORE (June 16): DBS Group Research has upgraded ARA Logos Logistics Trust (ALLT) to a “buy” from the previous “hold” with a target price of 70 cents, representing a 32% upside for the stock. 

In a Monday report, DBS analyst Dale Lai believes that ALLT, along with other landlords and tenants, is well-placed to benefit from reopening of the Singapore economy as the state lifts its circuit breaker measures in staggered phases. 

“With government grants and cash retained in 1QFY2020, we believe that ALLT has sufficient buffers in place to provide financial assistance to its tenants in the near term,” says Lai, who also says that the brokerage does not foresee the need for further provisions in 2QFY2020. 

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