Stock Name: SuntecReit
Company Name: SUNTEC REAL ESTATE INV TRUST
Research House: MacQuarie
Company Name: SUNTEC REAL ESTATE INV TRUST
Research House: MacQuarie
Macquarie upgrades Suntec REIT (T82U.SG) to Outperform from Neutral, lifts target price to $1.68 from $1.20 after raising FY12-14 DPU estimates by 9%-25% on optimism over office rental outlook for Singapore.
“We believe Suntec will be a beneficiary of rising rents resulting from an emerging supply gap in 2012.” says Macquarie, adding Marina Bay Financial Centre could be potential investment target for Suntec if part owner Cheung Kong Holdings (0001.HK) decides to sell its stake. REIT –0.7% at $1.49.
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