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Maintain 'add' on Elite Commercial REIT after it completes first milestone acquisition: CGS-CIMB

Lim Hui Jie
Lim Hui Jie10/20/2020 12:48 PM GMT+08  • 3 min read
Maintain 'add' on Elite Commercial REIT after it completes first milestone acquisition: CGS-CIMB
CGS-CIMB have maintained their “add” call on Elite Commercial REIT after its acquisition of 58 additional commercial properties.
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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.

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