SINGAPORE (Apr 19): DBS Group Research is upgrading Soilbuild Business Space REIT (Soilbuild REIT) to a “buy” with a revised 12-month target price of 50 cents, from 55 cents previously.

In an April 17 report, analysts Dale Lai and Derek Tan attribute the more optimistic view to a 3.9% increase in rents for new leases signed in the quarter.

The target price represents an upside of some 28% to Soilbuild REIT’s last traded price of 39 cents.

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