SINGAPORE (Jan 21): OCBC Investment Research and DBS Vickers Securities are maintaining their “buy” rating on Frasers Commercial Trust (FCOT) after the release of the REIT’s latest set of quarterly results where 1Q19 DPU came in flat at 2.4 cents, in line with both research houses’ expectations.

OCBC and DBS have given FCOT a fair value estimate and target price of $1.56 and $1.70, respectively.

To recap, Google is reportedly interested in leasing about 400,000 sf at Alexandra Technopark (ATP), which would bring the property to nearly full occupancy from a committed occupancy rate of 68.6% as at end-2018.

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