Ascendas India Trust

Ascendas India Trust: JPMorgan raises Indian Reit target price to $1.10 from $0.95 and keeps Overweight call. Highlights owner of 4 IT parks in India continues to enjoy healthy 97% occupancy vs market rate of 63%-88%. Notes trust has consistently been able to retain tenants despite oversupply of space in market given the improving office leasing outlook and its high quality assets. Portfolio income is expected to increase by 35% once existing projects under devt are completed over 2H10-2H11.