Ascendas India Trust kept at 'buy' with target price lifted to 96 cents

Stock Name: Ascendas-iTrust
Company Name: ASCENDAS INDIA TRUST

Research House: DBS Vickers

Price Call: BUY

Target Price: 0.96

SINGAPORE (Feb 11): DBS Vickers Securities has lifted its target price on Ascendas India Trust (a-iTrust) by one cent to 96 cents and retained a "buy" call after the investment trust's announcing its intention to purchase Cybervale economic zone in Chennai, India for $35.9 million.

In a note out today, DBS Vickers has revised its projection of a-iTrust's distribution per unit (DPU) for financial years ending Mar 31, 2016 (FY16) and 2017 (FY17) by 2% higher. The 12-month target price of 96 cents also implies an upside of 9.71%.