Sunway REIT Valuation Looks Attractive After Share Price Weakness
Dow Jones
Aug 13
0109 GMT - Sunway REIT's current valuation offers an attractive entry point, following its recent share price correction, with resilient retail fundamentals and lower financing costs supporting its outlook, says Maybank IB analyst Nur Farah Syifaa. Its hotel earnings are also expected to improve in 3Q, aided by government tourism campaign, medical tourism and stronger bookings amid the Formula One event, she says in a note. Maybank upgrades Sunway REIT's rating to buy from hold, given the attractive risk-reward profile and maintains a 2.60 ringgit target price. Shares are up 1.4% at 2.18 ringgit.
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