Yuexiu Property 0123

[winston]

Not vested

YUEXIU REIT (00405) kept Buy with TP$4.3 by BofAML
2012-07-12

YUEXIU REIT (00405)'s distribution per unit added 0.5% from a year ago to RMB11 cents, coming in line with estimate, Bank of America Merrill Lynch said in a report.

Rental income moved up 2.5% semi-annually, mainly deriving from White Horse Building and Victory Plaza.

The interim result only gave little surprise, but the bank believed the terms for the acquisition of Guangzhou International Financial Centre was reasonable.

The bank will adjust the distribution forecast after the deal. YUEXIU REIT was kept Buy with target price $4.3.

Source: AAStocks Financial News