Friday, February 11, 2011

GLP - GLP 3Q net profit likely at US$80m - JPMorgan

Stock Name: GLP
Company Name: GLOBAL LOGISTIC PROP LIMITED
Research House: JP Morgan Chase


JPMorgan estimates Global Logistic Properties’ (MC0.SG) third-quarter net profit at US$80 million ($10.2 miliion) on good leasing momentum. The house says its forecast indicates strong growth over the corresponding period a year ago. 



GLP is expected to release third-quarter results after markets close today. “Strong customer demand for GLP’s Chinese facilities underpins the group’s robust growth trajectory and is supportive of a positive valuation for GLP’s development pipeline,” JPMorgan says. 

It maintains an Overweight rating with a $2.90 target, and says GLP offers an attractive buying opportunity as “any recent share price weakness related to China’s rate hikes and policy tightening appears unwarranted.” The stock is down 1.0% at $1.97.

No comments:

Post a Comment