However, if the REITs spin-offs do come into fruition, they estimate a potential 67% upside to RM4.05.
IOI Properties Group, with stated plans to unlock value by listing two REITs based on its growing portfolio of investment properties worth more than RM20 billion, is potentially a two-bagger stock, according to Tabitha Foo and Derek Tan of DBS Group Research, the latest in a growing list of brokerages paying closer attention to this counter.
In their unrated July 7 note, Foo and Tan deem this counter to have a potential 12-month target of RM2.43, on an "as is" basis.
