SINGAPORE (Oct 26): UOB Kay Hian is keeping its “overweight” rating on REITs following quarterly results announcements by CapitaLand Mall Trust (CMT), Frasers Centrepoint Trust (FCT), and Cache Logistics Trust.
CMT and FCT saw results for the July-Sept quarter falling within expectations, while Cache narrowly missed the mark.
UOB is maintaining its “hold” calls on CMT and FCT with target prices of $2.18 and $2.36 respectively. Meanwhile, Cache is kept at “buy” with a marginally lower target price of $1.10 from $1.12 previously.
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