Friday, May 13, 2011

Global Logistic Properties BUY Target Price $2.90 by JP Chase Morgan

JP Morgan Research in a Feb 25 research report says: "GLP announced a joint venture with the Suzhou municipal government to develop a modern logistics park with a total land area of 1 million sqm. Phase 1 will comprise 200,000sqm GFA of modern logistics facilities with GLP’s investment cost at US$90 million (90% stake in the JV).

"Evidence of the underlying momentum in new leasing activity, development starts and land acquisition are the main share price drivers for this stock in our view. The recent announcements on new leasing and new development sites we believe are some of positive catalysts for the stock.

"Our December 2011 price target of $2.90 is based on our December 2011 sum-of-the-parts valuation for GLP. The net asset value for GLP assets on our estimate is $9.5 billion, or $2.03 per share. MAINTAIN OVERWEIGHT."


Get prices all in one page from Priceline, Agoda, Bookings, LastMinute, compare reviews and total cost and fees, then decide on the best option Even same hotels may have different pricing on different booking systems because of their bulk discount quotas and bag the best deal at the time of your search, saving time and effort from a single hotel information system.

No comments:

Post a Comment

Blog Archive