SINGAPORE (June 26): DBS analysts Rachel Tan and Derek Tan are maintaining their “buy” calls on Keppel Pacific Oak US REIT (KORE) with a lowered target price of 85 US cents from 90 US cents previously.
“Trading at > 8% yield and 0.9x P/NAV, we believe there is still upside with greater investor visibility and positive sentiment from re-opening of the US economy,” they write in a note dated June 23.
KORE’s inclusion into MSCI Singapore’s Small Cap Index in May has also led to a strong re-rating in its share price.
