KUALA LUMPUR: CIMB Equities Research describes Pavilion REIT's FY13 core net profit of RM214.1mil as in line with expectations, at 101% of both its full-year estimates and consensus.
“We maintain our Hold rating on the stock and our DDM-based target price of RM1.31. Given the lacklustre DPU growth outlook and the risk of compressed yield spreads in 2014, we believe that Pavilion REIT's potential returns are fully reflected in its current share price.
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