Brokers’ take: Analysts see resurgent fountain of wealth in Suntec Reit

Sharanya Pillai

Published Thu, Jul 28, 2022 · 11:56 AM

OPTIMISM about Suntec Reit : T82U 0%’s office portfolio, as well as recovery in the retail and convention segments, has prompted at least 1 broker to upgrade its call on the counter. Most of the other analysts who cover the stock also see better prospects for the sectors in which Suntec Reit operates, although several have flagged its high leverage.

CGS-CIMB on Wednesday (Jul 27) elevated its call on Suntec Reit from “hold” to “add”, while maintaining its target price at S$1.79.

The research house had in fact lowered its distribution per unit (DPU) estimates for FY2022 to FY2024, to factor in slightly higher interest costs and Suntec Reit’s guidance for higher…