Brokers' take

Mapletree Logistics Trust | Buy Target price: S$1.28 March 30 close: S$1.09 DBS Group Research, March 30

We believe that Mapletree Logistics Trust remains on a growth path. Supportive capital markets and availability of acquisition opportunities from the sponsor could drive earnings estimates higher. Stock offers attractive yields of 6.6-7.0 per cent. We believe that the Singapore warehouse subsector (about 38 per cent of revenues) is approaching a cyclical bottom by the end of 2017 where new supply will fall off significantly after that. Rentals should also be on the way to recovery from 2018 onwards. In addition, supported by brighter prospects in its major markets of Hong Kong, China and Australia, the group is poised to reverse its downward trend in distributions per unit seen in the past two years.

CapitaLand | Buy Target price: S$3.93 March 30 close: S$3.63 OCBC Investment Research, March 30