Stock Name: GLP
Company Name: GLOBAL LOGISTIC PROP LIMITED
CLSA Research in a Sept 14 research report says: "Global Logistic Properties (GLP) is the leading provider of logistic assets in China and Japan where underlying demand is underpinned by surging domestic consumption in China and Japan.
"GLP is set to enjoy 14% core earnings CAGR by 2015 on the back of rising demand for logistic assets. Booming online retail sales in China and outsourcing trend in Japan are key drivers for logistic space demand. Furthermore, a low gearing and potential monetisation of its Japan portfolio are key enablers to fund its China growth ambitions of 1.66 million sqm in FY12 and 2.0 million sqm per annum going forward.
"Our target price of $2.00 per share is a blended average of FY12/13 RNAV. OUTPERFORM (initiating coverage)."
Company Name: GLOBAL LOGISTIC PROP LIMITED
| Research House: CLSA | Price Call: BUY | Target Price: 2.00 |
CLSA Research in a Sept 14 research report says: "Global Logistic Properties (GLP) is the leading provider of logistic assets in China and Japan where underlying demand is underpinned by surging domestic consumption in China and Japan.
"GLP is set to enjoy 14% core earnings CAGR by 2015 on the back of rising demand for logistic assets. Booming online retail sales in China and outsourcing trend in Japan are key drivers for logistic space demand. Furthermore, a low gearing and potential monetisation of its Japan portfolio are key enablers to fund its China growth ambitions of 1.66 million sqm in FY12 and 2.0 million sqm per annum going forward.
"Our target price of $2.00 per share is a blended average of FY12/13 RNAV. OUTPERFORM (initiating coverage)."
No comments:
Post a Comment