SINGAPORE (Nov 3): JP Morgan has rated Global Logistic Properties (GLP) at “overweight”, meaning it expects the stock to outperform the average total return of the stocks under its coverage. It has also given the US$6 billion ($8.3 billion) owner of industrial property a price target of $2.15.

This comes after news broke out yesterday on Bloomberg that a group of investors representing China Investment Corp (CIC), Hopu Investment Management and Hillhouse Capital Management have held talks about making a joint offer for GLP, according to “people with knowledge of the matter”.

GLP has denied the claims.

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