The lowered target price is due to the OIR team factoring in FLCT’s German acquisitions and incorporating a lower Australian dollar (AUD) relative to the Singapore dollar (SGD). The team has also upped its risk-free rate input from 2.75% to 3%.
Citi Research’s Brandon Lee, CGS International’s Lock Mun Yee and Natalie Ong, DBS Group Research’s Dale Lai and Derek Tan and the team at OCBC Investment Research (OIR) have maintained their “buy” and “add” calls on Frasers Logistics and Commercial Trust (FLCT) following the release of its 1HFY2024 results ended March 31.
While the analysts at Citi Research, CGSI and DBS Group Research have maintained their target prices of $1.24, $1.27 and $1.44 respectively, the OIR team has trimmed its target price from $1.37 to $1.35.
