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What could nudge SPH REIT’s unit price higher?

Michelle Zhu
Michelle Zhu10/10/2016 01:32 PM GMT+08  • 2 min read
What could nudge SPH REIT’s unit price higher?
SINGAPORE (Oct 10): CIMB has raised its target price on SPH REIT to $1.05 from $1.03 previously, while maintaining its “hold” rating based on limited upside.
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SINGAPORE (Oct 10): CIMB has raised its target price on SPH REIT to $1.05 from $1.03 previously, while maintaining its “hold” rating based on limited upside.

In a Friday note, analysts Lock Mun Yee and Yeo Zhi Bin say SPH REIT’s acquisition of Seletar Mall is likely be a share price catalyst in the medium-term, while the ongoing asset enhancement initiatives (AEIs) should lift its revenue marginally over the next two years.

“With a low gearing of 25.7%, the trust is well placed, in our view, to explore inorganic growth opportunities, such as potential acquisition of the Seletar Mall, which is majority-owned by its sponsor (Singapore Press Holdings),” state the analysts.

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