Stock Name: AscendasIndT
Company Name: ASCENDAS INDIA TRUST
Research House: Citigroup
Company Name: ASCENDAS INDIA TRUST
Research House: Citigroup
Citigroup lifts Ascendas India Trust (CY6U.SG) target price to $1.18 from $1.05 after adjusting valuation metrics, keeping Buy call, according to Dow Jones.
Citi tips REIT as defensive play on Indian property, offering 12-month yield of 8.0% vs 5.0%-7.0% for Singapore peers. Research house says portfolio vacancy remains low, with income stream steady. Adds, growth opportunities abundant with capacity to develop another 2.5 million sq ft of space at its Bangalore premises.
REIT off 1.0% at $0.96.
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