RHB Group Research’s Vijay Natarajan has maintained his “buy” rating on Keppel Pacific Oak US REIT (KORE) with a target price of 90 US cents, citing US office recovery. 

“Although there has been a slight delay in [the] timeline, more employees are expected to return to the office in the US in early 2022, boosting leasing demand and acting as a re-rating catalyst,” says Natarajan. 

Last month, KORE completed the acquisition of Bridge Crossing (BC) in Nashville and 105 Edgeview (105 EV) in Denver for a total consideration of US$105.1 million.

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