0847 GMT - Keppel DC REIT looks well-positioned for growth, driven by data-center and AI demand, OCBC Investment Research writes in a note. The recent addition of new-generation AI-ready hyperscale data centers to its portfolio in Singapore will strengthen its position as a top data-center owner in the region and help reduce its overall exposure to China, the team says. It raises its fiscal 2025 distribution per unit forecast for the REIT by 4.0%, as growing demand for data-center space amid increased cloud adoption and digitalization is expected to support growth. OCBC keeps a buy rating and raises the fair-value estimate to S$2.44 from S$2.15. Units are 0.9% higher at S$2.19. (kimberley.kao@wsj.com)
(END) Dow Jones Newswires
December 27, 2024 03:47 ET (08:47 GMT)
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