SINGAPORE (Apr 3): CGS-CIMB Research is initiating coverage on Sasseur REIT (SASSR) with an “add” recommendation and a target price of 92 cents, representing a potential upside of 15%.
This values SASSR at 7.3% FY19F DPU yield, which the brokerage says is still above the average of its comparable peers in Singapore.
“We went to SASSR’s outlet malls and they were packed,” says lead analyst Lock Mun Yee in a Tuesday report, adding that Sasseur is “the first listed outlet mall REIT in Singapore which offers investors exposure to the most rapidly-growing part of the China retail value chain.”
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