Analyst Vijay Natarajan believes that despite a challenging retail sector outlook weighing down, its portfolio negatives are mostly priced in.
RHB Group Research is keeping its “buy” recommendation on Starhill Global REIT (SGREIT) with an unchanged target price of 60 cents, as the stock is the cheapest retail/office S-REIT.
At current valuations, SGREIT is trading at 0.7 times FY2021 book value, below its 10-year -1SD levels, while its peers in retail/office sector have rebounded close to book or premium to book value.
