Buying frenzy of IGB-REIT amid rating upgrades

Analysts have revised their earnings forecasts of IGB-REIT upward, factoring in the future contributions from MVS Mall.

PETALING JAYA: IGB Real Estate Investment Trust’s (REIT) unit price hit an all-time high after the owner of Mid Valley Megamall announced the largest acquisition in the history of Malaysian REITs.

At least six investment banks, including JP Morgan, have upgraded their ratings on the stock to “buy”.