Friday, October 24, 2014

Ascott Residence Trust held at 'buy' by DBS with target price of $1.40

Stock Name: Ascott Reit
Company Name: ASCOTT RESIDENCE TRUST
Research House: DBS VickersPrice Call: BUYTarget Price: 1.40



SINGAPORE (Oct 24): DBS Group Research has maintained its "buy" call for Ascott Residence Trust (ART) with a slightly higher target price of $1.40.

In an Oct 24 report, DBS says with ART's sponsor investing up to A$500 million in new properties that Quest will secure for its franchise network, as well as taking a 20% interest in Quest, ART's future acquisition pipeline has expanded. This should help underpin ART's already healthy outlook.

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