SINGAPORE (Nov 10): DBS is maintaining a “buy” call with a target price of $2.47 for Global Logistic Properties (GLP), given its stellar 1H results and market speculation of a possible takeover.

Lead analyst Rachel Tan notes that the company posted a 36% jump in earnings excluding revaluation gains and one-off items.

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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