Brokers' take

Mapletree Industrial Trust | Buy June 20 close: S$1.815 Target price: S$1.93 OCBC Investment Research, June 20

MAPLETREE Industrial Trust's (MIT) share price has softened 3.5 per cent since its YTD peak on June 2, versus the FTSE ST Reit Index's 0.6 per cent gain. We believe this pullback presents buying opportunities as we expect MIT to register a 4.9 per cent growth in DPU in FY18. MIT also announced its proposed divestment of its 65 Tech Park Crescent property for S$17.7 million to Concrete Innovators Co Pte Ltd, slightly above its latest valuation of S$17.6 million but significantly above purchase price of S$13.2 million. We are positive on this transaction as the 10-year master lease with Metech International Ltd will be expiring in November, and there would likely be efficiency loss and downtime if the property was converted to a multi-tenanted building.

Raffles Medical Group | Sell June 20 close: S$1.345 Target price: S$1.25 CIMB, June 19