Singapore Stock Market News

SPH REIT - Positivity factored in

StockFanatic
Publish date: Tue, 26 Aug 2014, 09:41 AM
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SPH REIT has performed well recently.

With
i) the share price factoring in the positivity from the upcoming AEIs at Paragon that could add 10,000 sq ft of NLA and

ii) high valuations relative to its peers, we downgrade SPH REIT from add to Hold with an unchanged DDM-based (discount rate: 7.7%) target price of S$1.09.

Re-rating could be sparked by upside surprises on the retail front and/or other yield-accretive acquisitions.
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