GLP kept at 'buy' with $3.42 target price by Citi

Stock Name: Global Logistic
Company Name: GLOBAL LOGISTIC PROP LIMITED

Research House: Citigroup

Price Call: BUY

Target Price: 3.42

SINGAPORE (Feb 6): Citi Research is maintaining a "buy" call for Global Logistic Properties (GLP) with a target price of $3.42 due to its strong performance in China, despite recording a lower profit in 3Q15 ended Dec.

GLP reported a profit of $381 million in 3Q15, down 27% from the same quarter last year.

This also translates into a 30% drop of core profit y-o-y to US$135 million.