The company has marginally upgraded guidance at the first half result, which was broadly in line with expectations.
Distribution growth for FY20 is increased to 5.5%, reflecting increased certainty on property income together with improved funds management earnings, UBS notes.
The broker expects strong cash flow and positive leasing spreads along with lower debt costs will deliver superior returns and retains a Buy rating and $13.60 target.
Sector: Real Estate.
Target price is $13.60.Current Price is $12.88. Difference: $0.72 – (brackets indicate current price is over target). If DXS meets the UBS target it will return approximately 5% (excluding dividends, fees and charges – negative figures indicate an expected loss).
