KGI Research analyst Joel Ng has upgraded Manulife US REIT (MUST) to “outperform” albeit with a lower target price of 82 US cents from 86 US cents previously.
The upgrade comes as US office properties look set to see improving demand as more employees return to the office, even if it’s on a part-time basis.
“Improving fundamentals may finally lift investor confidence in the sector,” Ng writes in a Sept 7 report.
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