SINGAPORE (Feb 2): OCBC is reiterating its “buy” recommendation on Mapletree Greater China Commercial Trust with lower $1.03 fair value after reporting a solid set of 3Q results which came in within expectations.

In a Tuesday report, lead analyst Andy Wong says he is keeping his forecasts intact given this set of in-line results.

“However, we are increasing our cost of equity assumption on MGCCT from 8.2% to 8.7% to take into account the heightened volatility seen in the financial markets in recent weeks and growth concerns emanating from China,” says Wong.

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