Home Capital Broker's Calls

Missed the boat? DBS says Suntec REIT's rally is still sustainable

PC Lee
PC Lee12/15/2017 12:37 PM GMT+08  • 2 min read
Missed the boat? DBS says Suntec REIT's rally is still sustainable
SINGAPORE (Dec 15): DBS Group is upgrading Suntec REIT to "buy" from "hold" with a revised target price of $2.30.
Font Resizer
Share to WhatsappShare to FacebookShare to LinkedInMore Share
Scroll to top
Follow us on Facebook and join our Telegram channel for the latest updates.

SINGAPORE (Dec 15): DBS Group is upgrading Suntec REIT to "buy" from "hold" with a revised target price of $2.30.

"We, like all sellside analysts, were blind-sided by Suntec’s past performance and missed the 30% share price rally in 2017," says analyst Mervin Song in a Friday report.

But with a multi-year upturn in the Singapore office rents on the horizon, Song argues that REITs with office exposure should trade above book value, as seen historically.

×
Loading next article...
The Edge Singapore
Download The Edge Singapore App
Google playApple store play
Keep updated
Follow our social media
Subscribe to The Edge Singapore
Get credible investing ideas from our in-depth stock analysis, interviews with key executives, corporate movements coverage and their impact on the market.
© 2022 The Edge Publishing Pte Ltd. All rights reserved.