Stock Name: PLife REIT
Company Name: PARKWAYLIFE REIT
CIMB in a Sept 1 research report says: "Amid global uncertainties and persistent inflationary pressures, PLife is likely to enjoy both DPU stability and upside, owing to its CPI-pegged rents and portfolio of long-dated leases.
"We also expect management to exercise prudence in new partnerships and acquisitions, mitigating risks from non-accretive M&As. Although current valuations (1.3x P/BV) reflect those positives, we believe its premium pricing can be justified by the assurance of defensive, resilient yields.
"We maintain our assumptions and DDM-based target price of $2.05 (discount rate 7.4%), anticipating catalysts from accretive substantially debt-funded acquisitions. We advocate PLife as an ideal inflation hedge. MAINTAIN OUTPERFORM."
Company Name: PARKWAYLIFE REIT
| Research House: CIMB | Price Call: BUY | Target Price: 2.05 |
CIMB in a Sept 1 research report says: "Amid global uncertainties and persistent inflationary pressures, PLife is likely to enjoy both DPU stability and upside, owing to its CPI-pegged rents and portfolio of long-dated leases.
"We also expect management to exercise prudence in new partnerships and acquisitions, mitigating risks from non-accretive M&As. Although current valuations (1.3x P/BV) reflect those positives, we believe its premium pricing can be justified by the assurance of defensive, resilient yields.
"We maintain our assumptions and DDM-based target price of $2.05 (discount rate 7.4%), anticipating catalysts from accretive substantially debt-funded acquisitions. We advocate PLife as an ideal inflation hedge. MAINTAIN OUTPERFORM."
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