MapletreeLog - Mapletree raised to Buy vs Hold by OCBC; Ups target

Stock Name: MapletreeLog
Company Name: MAPLETREE LOGISTICS TRUST
Research House: OCBC

OCBC Investment Research upgrades Mapletree Logistics Trust (M44U.SG) to Buy from Hold, lifts target price to $0.90 from $0.89, says Dow Jones.



Advocates buying REITs with proven track record of taking on accretive acquisitions, competitive fund-raising exercises.



"MLT certainly falls in this category," says OCBC.



OCBC adds REIT's 3.4% fall to $0.85 yesterday not justified as MLT's latest $304.9 million cash call expected, with terms fairly competitive.



Exercise comprises private placement of 207.3 million new units at $0.825 each, preferential offering of 164.3 million new units at $0.815 each, with investors entitled to 2 new units for every 25 already held.