Mapletree Industrial Trust kept at 'Add' with target price of $1.64 by CIMB

Stock Name: Mapletree Ind Tr
Company Name: MAPLETREE INDUSTRIAL TRUST

Research House: CIMB

Price Call: BUY

Target Price: 1.64

SINGAPORE (Jan 21): CIMB is maintaining its "Add" call on Mapletree Industrial Trust with a target price of $1.64.

As it is, Mapletree Industrial Trust's (MIT) 3QFY15 results came in line with CIMB's expectations, with 9MFY15 revenue and DPU accounting for 77% of its full-year forecasts.

On a yoy basis, distributable income also grew by a respectable 8.6%, driven by both organic and inorganic means.

"We maintain our Add rating and DDM-based (discount rate: 8.7%) target price of S$1.64," said a Jan 20 report led by Pang Ti Wee.