CGS-CIMB upgrades ARA Logos to 'add', citing stronger focus on growth

Singapore

CGS-CIMB has upgraded its call on ARA Logos Logistics Trust (ALog) to "add", from "hold" previously, and raised its target price on the counter slightly to 71.3 Singapore cents, up from 71 Singapore cents.

This comes amid more earnings clarity and a shift in focus to growth, wrote CGS-CIMB analysts Eing Kar Mei and Lock Mun Yee in a research note on Tuesday.

Units in ALog closed at 59.5 Singapore cents on Wednesday, up 2.5 Singapore cents or 4.4 per cent.

The analysts said their recent investor call with ALog suggested that the trust has not seen a large…

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