0410 GMT - Mapletree Industrial Trust's valuations look attractive, DBS Research analysts Derek Tan and Dale Lai say in a note as they maintain a buy rating on the trust. A recent unit-price correction has brought the price-to-net-asset-value ratio down to 1.3X with forward yields of 5.3%-5.5%, close to average levels, they say. The analysts like the Singapore-listed REIT's resilience and steady growth profile amid current market volatility. However, they trim the unit's target price to S$3.05 from S$3.35 to reflect an earnings revision due to higher utility costs and increased discount-rate assumptions. Units are 0.4% higher at S$2.64. (ronnie.harui@wsj.com)
$(END)$ Dow Jones Newswires
April 27, 2022 00:13 ET (04:13 GMT)
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