Cache Logistics kept at 'add' by CIMB with $1.32 target price

Stock Name: Cache Log Trust
Company Name: CACHE LOGISTICS TRUST

Research House: CIMB

Price Call: BUY

Target Price: 1.32

SINGAPORE (Feb 10): CIMB Research today maintained its "add" rating on Cache Logistics Trust with a $1.32 target price, subsequent to the announcement made by the latter to acquire three Australian assets at a price tag of $73.4 millioin.

"As the acquisition will be funded by debt, we estimate that Cache's leverage ratio will rise to 35.7% upon completion. Consequently, we expect DPU (Distribution per unit) to be boosted by 1.6% and 1.2% in FY15 (financial year 2015) and FY16," the research house said in its research note today.

Cache Logistics Trust kept at 'Add' with $1.34 price target by CIMB

Stock Name: Cache Log Trust
Company Name: CACHE LOGISTICS TRUST

Research House: CIMB

Price Call: BUY

Target Price: 1.34

SINGAPORE (Dec 2): CIMB Research is maintaining its "add" call on Cache Logistics Trust with an unchanged target price of $1.34.

In a report dated Nov 27 by analysts Pang Ti Wee, Lock Mun Yee and Tan Xuan, CIMB says Cache's outlook is looking positive, with no debts due till 2017, higher spot rent than the underlying rent for the leases due for renewal, and upcoming additional contribution from the BTS project.