Calan target price raised

Citigroup has upgraded the target price on Calan Healthcare Properties Trust from 98c a unit to $1.25, in line with the takeover offer from ING Property Trust.

Analyst Blair Cooper said he regarded the stock as "low-risk" after ING's offer and said the takeover deal looked fair based on present forecasts.

The chances of ING not going ahead with the full takeover were minimal.