As the vaccine rollout in the US progresses, Prime US REIT is cautiously optimistic on the office sector outlook, says RHB Group Research, as physical offices remain a “key ingredient” for work environments in the US. 

RHB Group Research analyst Vijay Natarajan is maintaining “buy” on the REIT, with a target price of US$1.00, which represents a 24% upside.

“We hosted Prime US REIT’s management for a virtual meeting with our regional clients. Management was cautiously optimistic on the US office sector outlook, with the recovery in employment bolstered by the vaccine roll-out and passing of the USD1.9trn economic stimulus package,” writes Natarajan in a March 17 note.

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