DBS Group Research analysts Geraldine Wong and Derek Tan have kept “buy” on Lendlease Global Commercial REIT (LREIT) with a higher target price of $1.05 from 90 cents previously.

To the analysts, the acquisition of JEM – which may happen within a year – proves to be an impending catalyst for the REIT.

“We believe that a golden opportunity exists for LREIT to fully acquire [the] JEM mixed development within the coming year. A dominant mall in the West, we see positives from a pivot into the suburban retail space while its Singapore exposure will increase to 85% (from 75%) as LREIT emerges as the upcoming Singapore-focused retail play,” they write in a Sept 2 report.

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