Jefferies upgrades Mapletree Commercial Trust, Suntec Reit to 'buy'

Published Thu, Sep 3, 2020 · 09:50 PM

Singapore

JEFFERIES Singapore has upgraded its recommendation on Mapletree Commercial Trust (MCT) and Suntec Real Estate Investment Trust (Suntec Reit) to "buy" from "hold".

The brokerage has also raised its price target on MCT to S$2.25, up from S$1.45, and increased its price target on Suntec Reit to S$1.70, up from S$1.25 previously.

This comes as Jefferies Singapore believes that a slowdown in the spread of the novel coronavirus, news of vaccine developments, as well as the easing of travel and social distancing norms should lift sentiment and consumption.

In addition MCT has an "attractive asset portfolio" located next to the Southern Waterfront, which is possibly the …