OUE Hospitality Trust downgraded to 'hold' by CIMB

Stock Name: OUE HTrust
Company Name: OUE HOSPITALITY TRUST

Research House: CIMB

Price Call: HOLD

Target Price: 1.01

SINGAPORE (May 8): CIMB has downgraded OUE Hospitality Trust (OUE-HT) to "hold" from "add", citing limited upside to its $1.01 price target and potential overhang from any capital raising to fund the acquisition of a hotel at Changi Airport.

The REIT recently acquired Crowne Plaza at Changi Airport and will proceed to buy an extension next to the hotel in a deal worth $205 million.