Maybank Kim Eng is recommending Singapore’s Starhill Global REIT, saying it is a prime retail play trading at a sharp discount to its book value.
The brokerage kept its buy rating and price target for the company, whose key assets are in the prime Orchard Road area, unchanged at $0.80. The REIT’s units were flat at $0.63.
Following last year’s influx of international retailers such as Abercrombie & Fitch and Michael Kors into Singapore’s main shopping belt, Kim Eng expects demand for prime retail space to increase as more foreign retailers enter the market.
The brokerage kept its buy rating and price target for the company, whose key assets are in the prime Orchard Road area, unchanged at $0.80. The REIT’s units were flat at $0.63.
Following last year’s influx of international retailers such as Abercrombie & Fitch and Michael Kors into Singapore’s main shopping belt, Kim Eng expects demand for prime retail space to increase as more foreign retailers enter the market.
No comments:
Post a Comment