Stock Name: K-REIT
Company Name: K-REIT ASIA
CIMB in a Mar 8 research report says: "We foresee portfolio stability for K-REIT despite office headwinds, underpinned by its superior assets, limited near-term lease expiries and income support for MBFC and OFC.
"With multiple negatives priced in and a lowered bar, we see room for it to meet or surpass expectations. Potential bright spots are improved take-up at OFC, a stronger-than-expected office market and a purer prime office portfolio if MBFC Tower 3 is funded by the divestment of its Australian or older assets.
"We raise DPU to factor in stronger rental and occupancy assumptions. Allied with a reduced beta and discount rate, we raise our DDM target price to 93 cents (disc. rate: 8.7%). UPGRADE TO NEUTRAL."
Company Name: K-REIT ASIA
| Research House: CIMB | Price Call: HOLD | Target Price: 0.93 |
CIMB in a Mar 8 research report says: "We foresee portfolio stability for K-REIT despite office headwinds, underpinned by its superior assets, limited near-term lease expiries and income support for MBFC and OFC.
"With multiple negatives priced in and a lowered bar, we see room for it to meet or surpass expectations. Potential bright spots are improved take-up at OFC, a stronger-than-expected office market and a purer prime office portfolio if MBFC Tower 3 is funded by the divestment of its Australian or older assets.
"We raise DPU to factor in stronger rental and occupancy assumptions. Allied with a reduced beta and discount rate, we raise our DDM target price to 93 cents (disc. rate: 8.7%). UPGRADE TO NEUTRAL."
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