Ascott Residence Trust offers untapped potential

SOFTER corporate demand and an uncertain economic climate are plaguing the hospitality sector, but some analysts still spy promise in Ascott Residence Trust (ART).

Eight analysts have a "buy" call on the counter, while four have issued a "hold" call, according to Bloomberg data. The 12-month consensus target price stands at S$1.27, above Tuesday's closing price of S$1.145.

Factors underpinning the bullish outlook include ART's diversified portfolio, contributions from recent expansion efforts as well as its asset enhancement initiatives.