Goldman Sachs analyst Xuan Tan downgraded Mapletree Logistics Trust (MAPGF) to Neutral from Buy with a S$1.31 price target The stock is up 19% over the past six months, outperforming the Singapore REITs Index’s 9% gain over the same period, which the firm believes was mainly driven by improving Mainland China rent reversion. Improving Mainland China reversion is now priced in, while rent reversion from its ex-China portfolio has also trended down, the analyst argues.
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