Singapore Stock Market News

Ascott Residence Trust - NDR feedback

StockFanatic
Publish date: Sat, 15 Feb 2014, 01:33 PM
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We brought management of ART on a non-deal roadshow in KL. As expected, the investors' questions largely centred on when and where its potential acquisition will be. Management reiterated its strategy and sounded confident that the acquisition will take place within 1HFY14.

Maintain our Hold rating and DDM-based (at a discount rate of 8.5%) target price. A yield-accretive acquisition is a potential re-rating catalyst.
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