Company Name: MAPLETREE LOGISTICS TRUST
| Research House: CIMB | Price Call: BUY | Target Price: 1.07 |
CIMB Research increased its target price for Mapletree Logistics Trust, which owns warehouses and logistic assets across Asia, to $1.07 fromS$1.00 and kept its outperform rating, citing its acquisition growth potential.
Units of Mapletree were 0.5% lower at $0.97, and have gained 15% so far this year.
CIMB said the trust sees more opportunities for acquisitions in existing markets such as South Korea, China and Malaysia, as well as in new markets including Australia, Indonesia and Thailand. The broker expects an increase in rents, with most leases due this year from Singapore and Hong Kong.
It said Mapletree was silent on Australia’s Stockland Group’s reported potential sale of part of its industrial property portfolio in Australia to sponsor, Mapletree Investments.
Out of 15 brokers tracking Mapletree Logistics, 13 have a buy or strong buy and two have a hold rating.
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