Keppel DC REIT may benefit from further data-center expansion via its sponsor Keppel's extensive pipeline, UOB Kay Hian's Jonathan Koh says in a research report. Keppel is developing Keppel DC SGP 9 in Singapore, the analyst notes. The sponsor's Keppel Data Centre Fund II also has a framework agreement with Mitsui Fudosan for the forward purchase of a data center currently being developed in western Tokyo. Moreover, the sponsor has entered South Korea's data-center market via Keppel Data Centre Fund III's 73% stake in the greenfield development of a 60-megawatt data center in Ansan. The brokerage raises its target price on Keppel DC REIT to 2.99 Singapore dollars from S$2.90, with an unchanged buy rating. Units are 0.45% lower at S$2.23. (ronnie.harui@wsj.com)
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Keppel DC REIT May Benefit From Further Data-Center Expansion in Asia — Market Talk
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Keppel DC REIT may benefit from further data-center expansion via its sponsor Keppel's extensive pipeline, UOB Kay Hian's Jonathan Koh says in a research report. Keppel is developing Keppel DC SGP 9 in Singapore, the analyst notes. The sponsor's Keppel Data Centre Fund II also has a framework agree…