SINGAPORE (May 8): DBS Group Research is downgrading its call on Netlink NBN Trust to “hold” from “buy” with an increased target price of $1.02 from 95 cents previously. 

Currently, Netlink offers a decent yield of 5.2% (compared to 5.1% average yield offered by large-cap industrial S-REITs), which is relatively attractive given Netlink’s lower gearing and longer asset life. But upside potential is limited. Year-to-date, the stock has outperformed the Straits Times Index (STI) by 25%.

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