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Broker's take: KGI downgrades Keppel DC Reit to 'neutral'

1-net north data centre
While rental reversions are likely to be positive for individual leases, KGI expects the average rent psf to fall in the future, diluted by 1-Net North DC (above) in Singapore and the Kelsterbach data centre in Germany.

KGI Securities has lowered its call on Keppel DC Reit to “neutral”, but increased its target price on the counter.

“While the data centre industry remains an attractive investment thematic, we think the sub 4 per cent dividend yield of Keppel DC Reit signals a fair valuation for its...

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