After a stellar 2016, here’s what’s next for GLP

SINGAPORE (Dec 21): DBS is maintaining its “buy” call on Global Logistic Properties (GLP) with a target price of $2.47 for its stellar 1H17 results, initiation of strategic review and market talk of a possible takeover.

(See also: GLP says JPMorgan appointed to undertake strategic review)

In a report last month, DBS lead analyst Rachel Tan notes that the company posted a 36% jump in earnings excluding revaluation gains and one-off items in 1H17. While the results were in line with estimates, Tan notes that the increase was driven by higher rental income and management fees from Japan and US.

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