UOB Kay Hian Research analyst Jonathan Koh maintains an ‘overweight’ rating, with recommendations to “buy” Ascott Residence Trust (ART), CDL Hospitality Trust (CDLHT) and Far East Hospitality Trust (FEHT).
He has given them target prices of $1.29, $1.45 and 76 cents respectively.
“We have weathered the Covid-19 pandemic for two years already. During this time, the speed of detecting new variants has accelerated, and effective vaccines and anti-viral drugs, such as Pfizer Paxlovid have been developed,” says Koh in his Feb 22 report. “Bookings for hotels and serviced residences are expected to pick up as the overcast from the Omicron variant fades as well.”