UOB Kay Hian Research has maintained its ‘buy’ rating for Elite Commercial REIT with a higher target price of 95 British pence ($1.78) from 88 pence previously following the REIT's acquisition of 58 properties across the UK which was completed on March 9.

The higher target price is based on a 9% raised distribution per unit (DPU) forecast for FY2021 ending December 2021 of 5.9 pence on the back of increased contributions from the new properties.

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