Ascendas Hospitality raised to 'buy', target lifted to 73 cents by DBS

Stock Name: Ascendas-hTrust
Company Name: ASCENDAS HOSPITALITY TRUST

Research House: DBS Vickers

Price Call: BUY

Target Price: 0.73

SINGAPORE (May 11): DBS Vickers has upgraded Ascendas Hospitality Trust to "buy" from "hold" and lifted its price target to 73 cents from 68 cents, saying the growing number of international visitors to Australia and Japan will bode well for its properties in the two markets.

"We believe the Australian portfolio (which accounted for 58% of its FY2015 net property income), especially hotels in Sydney and Melbourne, will continue to underpin A-HTRUST's growth outlook," DBS Vickers analysts Mervin Song and Derek Tan wrote in a note today.