CGS-CIMB analyst Lock Mun Yee has reiterated their bullish stance on ACDSF stock, giving a Buy rating today.
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Lock Mun Yee’s rating is based on the positive outlook for CapitaLand Ascendas REIT, driven by several strategic initiatives and favorable market conditions. The REIT’s recent acquisitions, including a US logistics property and a data center in Singapore, are expected to enhance revenue in the second half of 2025. These acquisitions, along with ongoing redevelopment projects, are anticipated to bolster income growth and provide a stable foundation for future earnings.
Furthermore, the REIT’s portfolio has shown resilience, with a notable increase in rental reversions and occupancy rates, particularly in the Australian and US markets. Despite some challenges, such as tenant departures in specific locations, the overall portfolio remains strong. The REIT’s healthy balance sheet and diversified asset base further support the Buy rating, as they position the company well for potential growth and value creation, even amid economic uncertainties.
In another report released today, DBS also maintained a Buy rating on the stock with a S$3.20 price target.