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Investing.com - Macquarie has upgraded Mapletree Logistics Trust (MLT:SP) (OTC:MAPGF) from Neutral to Outperform and raised its price target to SGD1.55 from SGD1.15, representing a 35% increase.
The upgrade follows Mapletree Logistics Trust ’s second quarter fiscal year 2026 distribution per unit (DPU) of 1.82 Singapore cents, which Macquarie noted was in line with expectations.
Macquarie highlighted that Mapletree’s cost of debt recorded its first quarter-over-quarter decline since the fourth quarter of fiscal year 2024, signaling potential improvement in the company’s interest expense outlook.
The firm also pointed out that negative reversions in China have moderated to less than 5%, compared to high-single to double-digit negative reversions in previous periods.
Macquarie expects Mapletree Logistics Trust’s distribution per unit to bottom in fiscal year 2026, with an anticipated earnings recovery driven primarily by interest cost savings.
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