Tan and Lai have kept their "buy" call and trimmed their target price to $2.70 from $3.05 previously.
Analysts are keeping their “buy” and “add” calls on Mapletree Industrial Trust (MINT) with lower target prices on the back of higher utility and borrowing costs.
DBS Group Research analysts Derek Tan and Dale Lai note that the spike in utility costs has already impacted MINT’s 2QFY2023 numbers and should stabilise from current levels. However, given the rise in global interest rates, the analysts are keenly watching the REIT’s refinancing efforts to keep interest costs manageable.
