SINGAPORE (Oct 10): DBS Vickers Securities is reiterating its “buy” call on Manulife US REIT after a recent site visit to the office REIT’s US properties, with a higher target price of 93 US cents ($1.28) from 91 US cents previously.

(See also: Manulife US REIT started at ‘buy’ by Song of DBS)

“We continue to like Manulife US REIT's strong organic growth prospects (CAGR of 5% over FY16-17F), which is one of the highest among REITs in Singapore. The expected strength of the USD/SGD exchange rate could potentially result in inflows into the stock,” says lead analyst Mervyn Song in a Monday report.

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