Natarajan’s new target price of 43 US cents (57.66 cents), down from his previous target price of 64 US cents, reflects the REIT’s valuation decline.
RHB Group Research analyst Vijay Natarajan is keeping his “buy” call on Manulife US REIT (MUST) even though he notes that his earlier view of the REIT’s potential recovery in the 2HFY2022 was “misplaced”.
“MUST’s sharp valuation decline indicates that the US office market remains in a state of flux,” he notes in his Jan 3 report.
