DXS – Morgan Stanley rates the stock as Upgrade to Overweight from Equal-weight

Morgan Stanley believes Dexus is “ideal” for taking shelter its market volatility. The leases are underpinned by fixed 3.5-4%/year increases, while a tight Sydney office market should cushion the impact of uncertainties.

Rating is upgraded to Overweight from Equal-weight. In-Line sector view. Price target is raised to $13.00 from $12.45.

Sector: Real Estate.

Target price is $13.00.Current Price is $12.35. Difference: $0.65 – (brackets indicate current price is over target). If DXS meets the Morgan Stanley target it will return approximately 5% (excluding dividends, fees and charges – negative figures indicate an expected loss).

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