Brokers' take: DBS upgrades OUE C-Reit to 'buy' after recovery beats expectations - The Business Times
DBS Group Research on Tuesday (Oct 31) upgraded OUE Commercial Real Estate Investment Trust : TS0U +2.22%(OUE C-Reit) to “buy” from “hold”. Its target price of S$0.35 remained unchanged.
The upgrade came after the Reit posted a 29.8 per cent increase in net property income (NPI) for the third quarter ended Sep 30.
Revenue was up 27.5 per cent, following overall improvements to OUE C-Reit’s portfolio –especially when it came to hospitality – as Singapore’s tourism industry recovers post-pandemic.
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