CGS-CIMB’s Lock Mun Yee and Darren Ong have maintained their “add” call on Elite Commercial REIT with a target price of 78.1 British pence ($1.37) after its acquisition of over 50 additional commercial properties, up from its previous target price of 76.1 pence.

The REIT earlier announced that it has entered into a conditional share purchase agreement with Elite Bushel Holding Limited to acquire 58 commercial properties located across the UK. 

See also: Elite Commercial REIT acquires 58 buildings in UK for $372.6 mil, first since IPO

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