MIDF raises target price on Axis REIT on improved growth prospects

KUALA LUMPUR: MIDF Research has revised higher its target price for Axis Real Estate Investment Trust (REIT) on the back of better growth prospect for its industrial asset portfolio.

The research house raised its target price to RM2.04 from RM1.98 as it increased the terminal growth rate to 2% from 1.8% in its dividend discount model.