To recap, CLT recently reported lower 2Q18 DPU of 1.419 cents compared to 1.722 cents a year ago, which came in line with OCBC’s expectations.
SINGAPORE (Aug 1): OCBC Investment Research is upgrading its call on Cache Logistics Trust (CLT) to “buy” from “hold” with a lower fair value of 81 cents compared to 83 cents previously, after adjusting for higher cost of equity to factor in a rising interest rate environment.
The research house’s upgrade comes in anticipation of the industrial sector bottoming by end-2018 or early 2019, with the belief that CLT is ready to participate on the upturn.
