Home Capital Broker's Calls

CGS-CIMB initiates 'buy' on Lendlease Global Commercial REIT, calls it 'an undervalued REIT'

Felicia Tan
Felicia Tan9/10/2020 04:31 PM GMT+08  • 3 min read
CGS-CIMB initiates 'buy' on Lendlease Global Commercial REIT, calls it 'an undervalued REIT'
The brokerage's target price for LREIT is at 85.4 cents, which represents a 30.3% upside to its last closed price of 65.5 cents.
Font Resizer
Share to WhatsappShare to FacebookShare to LinkedInMore Share
Scroll to top
Follow us on Facebook and join our Telegram channel for the latest updates.

CGS-CIMB Research has initiated coverage on Lendlease Global Commercial REIT (LREIT) with a “buy” recommendation and a target price of 85.4 cents.

Analysts Eing Kar Mei and Darren Ong say they expect footfall for the REIT to “gradually recover” after factoring in the potential impact of Covid-19 in its FY20 results.

“We believe LREIT is a domestic recovery proxy for Covid-19 with upside from acquisitions and asset enhancement initiatives (AEIs),” they say, adding that they see limited downside risks to their estimated dividend yield of 6.6% with the REIT’s 100% committed dividend payout in FY21F.

×
Loading next article...
The Edge Singapore
Download The Edge Singapore App
Google playApple store play
Keep updated
Follow our social media
Subscribe to The Edge Singapore
Get credible investing ideas from our in-depth stock analysis, interviews with key executives, corporate movements coverage and their impact on the market.
© 2022 The Edge Publishing Pte Ltd. All rights reserved.