Ascott Residence Trust kept at 'hold' with $1.30 price target by CIMB

Stock Name: Ascott Reit
Company Name: ASCOTT RESIDENCE TRUST

Research House: CIMB

Price Call: HOLD

Target Price: 1.30

SINGAPORE (Dec 2): CIMB Research is maintaining its "hold" rating on Ascott Residence Trust (ART) with an unchanged target price of $1.30.

In a report dated Dec 1 by analysts Pang Ti Wee, Lock Mun Yee and Tan Xuan, CIMB says that while downside earnings risk is limited by the master/minimum income lease structure of ART's portfolio, further room for organic or inorganic growth appears limited.