OUE Hospitality Trust maintained at "hold" with 85 cents fair value by OCBC

Stock Name: OUE HTrust
Company Name: OUE HOSPITALITY TRUST

Research House: OCBC

Price Call: HOLD

Target Price: 0.85

SINGAPORE (Dec 1): OCBC Investment Research is maintaining its "hold" rating and $0.85 fair value on OUE Hospitality Trust (OUE-HT) for now, pending unitholders' approval at an EGM and further clarity on the debt and equity mix to finance the purchase.

Last Friday, OUE-HT announced that it has entered into conditional agreements to acquire Crowne Plaza Changi Airport (CPCA) for $290 million and the Crowne Plaza Changi Airport Extension (CPEX) for $205 million upon its completion from a subsidiary of its sponsor, OUE.