Mapletree Logistics Trust
Buy
DBS Group Research, July 2
July 3 close: S$1.145
Target price: S$1.31
WE upgrade our call from Hold to Buy and raise our discounted cash flow-based target price of S$1.31. Recent acquisitions have placed the trust back on a growth path with more to follow. Yields are attractive at more than 6.5 per cent, with upside of 16 per cent.
MLT has beat our initial S$100 million acquisition estimates for FY16F through sealing S$300 million worth of deals year-to-date. The latest being...
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