ARA - ARA Asset Management raised to Outperform by CIMB

Stock Name: ARA
Company Name: ARA ASSET MANAGEMENT LIMITED
Research House: CIMB

CIMB upgrades ARA Asset Management (D1R.SG) to Outperform from Trading Buy as brokers says that outlook for REIT looks increasingly positive as the impending launch of the US$1 billion ($1.36 billion) Asia Dragon Fund II would “significantly” enlarge its recurrent management fee base, says Dow Jones.



ARA management has said that ADF II fund will launch by 1Q11, which is in line with broker’s expectation of a half year contribution from ADF II management fees.



Raises target price to $1.35 vs $1.12. Stock up 0.9% at $1.13.