Given the weighting to non-discretionary retail, Credit Suisse expects the business will be well supported by the market. The recent market update highlighted positive trends in rent collection and retail sales.
Credit Suisse retains an Outperform rating and raises the target to $4.03 from $3.48.
While the share price is trading at a premium to net tangible assets, the broker cannot rule out further equity raisings to fund acquisitions although does not incorporate this scenario in its estimates.
Sector: Real Estate.
Target price is $4.03.Current Price is $3.92. Difference: $0.11 – (brackets indicate current price is over target). If CQR meets the Credit Suisse target it will return approximately 3% (excluding dividends, fees and charges – negative figures indicate an expected loss).