DXS - Deutsche Bank rates the stock as Hold
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Deutsche Bank believes, since the appointment of new CEO in 2012, the sale of offshore assets in favour of Sydney office assets has proven positive.
While currently believing the company's office exposure in Sydney is the most attractive market at present, the broker notes office income has lagged peers, notwithstanding a premium to net tangible assets.
The broker forecasts FY18 distributions growth of 4.1%. Deutsche Bank initiates coverage with a Hold rating and $9.00 target.
Sector: Real Estate.
Target price is $9.00.Current Price is $9.53. Difference: ($0.53) - (brackets indicate current price is over target). If DXS meets the Deutsche Bank target it will return approximately -6% (excluding dividends, fees and charges - negative figures indicate an expected loss).
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