MLT

MLT: UBS reiterates Buy, raises TP to $1.24 from $1.13. Notes over the past two yrs, MLT has consistently acquired assets to grow its earnings base, a trend the house believes will continue. With a $1b pipeline in various stages of completion, UBS thinks the sponsor will provide an impt growth platform for MLT, particularly as organic growth is slowing. Raises FY14-16e earnings by 2-4% and its 5-10 yrs growth trajectory by 1ppt to 2.5% inline with the growth mkts that MLT is targeting.