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CGS-CIMB downgrades Suntec REIT to 'hold'; other analysts mixed

Felicia Tan
Felicia Tan4/27/2022 07:25 PM GMT+08  • 6 min read
CGS-CIMB downgrades Suntec REIT to 'hold'; other analysts mixed
CGS-CIMB and Citi have rated Suntec REIT at 'hold' or 'neutral', while Maybank and RHB have kept their 'buy' calls. Photo: Samuel Isaac Chua/The Edge Singapore
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Analysts are mixed on Suntec REIT’s prospects after the REIT reported higher distribution per unit (DPU) and revenue for the 1QFY2022 ended March.

On April 26, the REIT reported DPU of 2.391 cents for the 1QFY2022, up 16.9% y-o-y.

Following the REIT’s business update, CGS-CIMB Research analyst Lock Mun Yee has downgraded her recommendation to “hold” from “add” previously with an unchanged target price of $1.79.

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