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.
