“Recent pullback in share price presents better entry price and total returns of 31.5% to our target price (TP),” writes Ong in a report dated Nov 2.
PhillipCapital analyst Natalie Ong has upgraded Ascendas REIT to “buy” from “accumulate” with a lower target price of $3.61 from $3.63 previously.
The upgrade comes as Ong adjusts her forecasts to reflect the REIT’s acquisition of MQX4, while the lower target price is due to the REIT’s higher debt and perpetual securities.
