Singapore Stock Market News

Cache Logistics Trust - The wait continues

StockFanatic
Publish date: Wed, 22 Jan 2014, 02:18 PM
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Cache's 4Q13 revenue and DPU translate to 25% and 24% of our respective quarterly estimates. Taken together with its 9M earnings, full-year revenue and DPU largely met our expectations, at 98% and 99% of our respective FY13 estimates. With its solid portfolio and no debts due to be refinanced in FY14, we believe Cache will continue to provide stable dividends while we await news of potential acquisitions.

We maintain our Add rating with an unchanged DDM-based target price (discount rate: 7.8%) of S$1.33.
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