The brokerage has also increased its FY2021-2022 distribution per unit (DPU) forecasts to factor in interest cost savings from the perpetual securities issued in September.
As Ascendas REIT (AREIT) has delivered better occupancy of 91.9% in 3QFY2020, analysts are positive on its prospects ahead.
CGS-CIMB Research has upgraded AREIT to an “add” rating from “hold” and raised its target price to $3.20 from $3.12, previously.
