DBS Group Research analysts Dale Lai and Derek Tan have kept “buy” on EC World REIT with a higher target price of 90 cents from 80 cents previously.

The new target price implies a price-to-net asset value (P/NAV) of 1.0 times and a “still very attractive” target yield of 6.8%, as it is still slightly below NAV.

As at the time of writing, EC World REIT has a NAV of 93 cents and is trading at a P/NAV multiple of less than 0.9 times.

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