UOB Kay Hian analyst Jonathan Koh maintains his “buy” call on Mapletree Industrial Trust (MINT), lifting his dividend discount model (DDM)-based target price to $3.72 from $3.63 previously.
He also increased his FY22F and FY23F distribution per unit (DPU) forecast by 1% and 3% respectively, due to strong contributions from the REIT’s newly acquired data centers.
MINT reported a DPU of 3.47 cents for 2QFY22, an 11.9% growth y-o-y, above UOB Kay Hian’s expectations.
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