CGS-CIMB Research analysts Lock Mun Yee and Eing Kar Mei have maintained their ‘add’ rating for Mapletree North Asia Commercial Trust (MNACT), with an unchanged target price of $1.12.

Lock and Eing have also kept their distribution per unit (DPU) estimates for the FY2022 and FY2024 unchanged.

In an Oct 29 note, the analysts say MNACT is trading at an inexpensive 6.8% FY2022 DPU yield and much of the weak retail outlook at Festival Walk has been factored into the current share price. 

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