In a report yesterday, UOB Kay Hian Research said net profit grew 9.8% in 2017, adding that the Reit sector growth in 2018 should come mainly from Axis Reit, as it will recognise the contribution of Axis Mega development.
PETALING JAYA: Two brokerages have upgraded their ratings on Axis Real Estate Investment Trust (Axis REIT), as the sentiment on the group’s future earnings turned positive.
Kenanga Research upped its call on Axis REIT by two notches to “market perform”, marking a subtantial change from its earlier “underperform” call. Affin Hwang Capital Research upgraded its recommendation to “buy”.
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