(MQREIT MK/BUY/RM1.32/Target: RM1.38)
MQREIT’s 1Q17 results came in within our expectation but was slightly above consensus. Core earnings was bolstered by contribution from newly-acquired Menara Shell, which was completed in Dec 16. Moving forward, we expect MQREIT to continue delivering decent sets of results, largely driven by long-term secured tenancies. Maintain BUY. Target price: RM1.38.
Source: UOB Kay Hian Research - 5 May 2017
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