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RHB keeps 'buy' on KORE with lowered TP of 87 cents as it remains 'operationally resilient'

Chloe Lim
Chloe Lim8/10/2022 01:26 PM GMT+08  • 3 min read
RHB keeps 'buy' on KORE with lowered TP of 87 cents as it remains 'operationally resilient'
The REIT’s valuation remains cheap at 0.84x 2022 P/BV, says Natarajan.
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RHB Group Research analyst Vijay Natarajan has kept a “buy” rating on Keppel Pacific Oak US REIT (KORE) with a lowered target price to US 87 cents ($1.20) from US 92 cents.

KORE’s operational numbers in 2QFY2022 ending December were in line with the analyst’s expectations.

Headline DPU declined mainly due to switching off entire management fees in cash, from all units previously, observes Natarajan.

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