Ascendas Hospitality Trust upgraded to ‘buy’ by DBS

SINGAPORE (May 13): DBS has upgraded its Ascendas Hospitality Trust (A-HTrust) recommendation to “buy” from “hold”, with a higher target price of 80 cents, driven by the REIT’s earnings recovery, further acquisitions, and a potential takeover offer.

A-HTrust is an “opportunity not to be missed”, says DBS lead analyst Mervin Song in a Friday report.

Song says A-HTrust’s value has now emerged, following a close to 10% correction in the trust’s share price after it rejected a potential takeover offer.

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