Stock Name: GLP
Company Name: GLOBAL LOGISTIC PROP LIMITED
Goldman Sachs said GLP’s size and depth of its network in China and Japan displayed key competitive advantages.
Company Name: GLOBAL LOGISTIC PROP LIMITED
| Research House: Golman Sachs | Price Call: BUY | Target Price: 2.34 |
Goldman Sachs started coverage of Singapore-listed logistics company, Global Logistic Properties (GLP) (GLPL.SI), with a buy recommendation and set a 12-month price target of $2.34.
By 10:20 A.M., GLP shares were up 1% at $1.865. The stock fell 13% since the start of last year.
By 10:20 A.M., GLP shares were up 1% at $1.865. The stock fell 13% since the start of last year.
Goldman Sachs said GLP’s size and depth of its network in China and Japan displayed key competitive advantages.
The brokerage said GLP’s operations in China are supported by structural growth in domestic consumption and limited supply of existing logistics facilities.
In Japan, its businesses provide annuity-like income streams which serve as an internal funding source for its expansions in China, Goldman Sachs said, explaining that GLP’s fundamentals look compelling with self-funded growth.
Goldman Sachs expects the company to outperform the sector over the next three years with an estimated compounded average growth rate of 16% in its earnings per share.
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