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GLP started at ‘buy’ by UOB on asset-light appeal

Benjamin Cher
Benjamin Cher11/23/2016 12:53 PM GMT+08  • 2 min read
GLP started at ‘buy’ by UOB on asset-light appeal
SINGAPORE (Nov 23): UOB Kay Hian has started coverage of Global Logistic Properties (GLP) with a “buy” call and target price of $2.40, citing its transformation into an asset-light model.
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SINGAPORE (Nov 23): UOB Kay Hian has started coverage of Global Logistic Properties (GLP) with a “buy” call and target price of $2.40, citing its transformation into an asset-light model.

Lead analyst Derek Chang notes that the transformation could see valuation balloon to $4.25 per share.

By setting up income funds or REITs to monetise its China and Japan assets, GLP could further unlock value, adds the analyst.

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