Key Indices
Top Stories
Company Update | NTT DC REIT (NTTDCR SP/BUY/US$0.90/Target: US$1.31)
- NTTDCR aims to expand in Europe to increase its exposure to Tier 1 markets. It has debt headroom of US$261m based on a gearing of 40%, which could be utilised to acquire a hyperscale 24MW DC in Frankfurt, Germany. It will amend its performance fee formula to incentivise DPU growth and increase alignment with unitholders’ interest. Re-iterate BUY for its attractive DPU yield of 9.0% for FY27 and 9.3% for FY28. Target price: US$1.31.
Market Spotlight
- US stocks were lower on Tuesday. All indices fell as the energy, communication services and utilities sectors slid. There were more decliners than advancers on NASDAQ.
- The FSSTI rose 15.02 points to 5,430.50, on the back of strength in DBS and OCBC Bank, with both mid- and small-cap indices rising with a broad market advance on a S$1.89b turnover.
Technical Analysis
First Resources (FR SP)
- Trading Sell Range: S$4.21-4.22
SATS (SATS SP)
- Trading Sell Range: S$3.71-3.72
Top Stories
Company Update | NTT DC REIT (NTTDCR SP/BUY/US$0.90/Target: US$1.31)
- NTTDCR aims to expand in Europe to increase its exposure to Tier 1 markets. It has debt headroom of US$261m based on a gearing of 40%, which could be utilised to acquire a hyperscale 24MW DC in Frankfurt, Germany. It will amend its performance fee formula to incentivise DPU growth and increase alignment with unitholders’ interest. Re-iterate BUY for its attractive DPU yield of 9.0% for FY27 and 9.3% for FY28. Target price: US$1.31.
Market Spotlight
- US stocks were lower on Tuesday. All indices fell as the energy, communication services and utilities sectors slid. There were more decliners than advancers on NASDAQ.
- The FSSTI rose 15.02 points to 5,430.50, on the back of strength in DBS and OCBC Bank, with both mid- and small-cap indices rising with a broad market advance on a S$1.89b turnover.
Technical Analysis
First Resources (FR SP)
- Trading Sell Range: S$4.21-4.22
SATS (SATS SP)
- Trading Sell Range: S$3.71-3.72
Key Indices
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