Suntec Real Estate Investment Trust (OTCMKTS:SURVF) Upgraded by Zacks Investment Research to Buy

Suntec Real Estate Investment Trust (OTCMKTS:SURVFGet Rating) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday, Zacks.com reports. The brokerage currently has a $1.50 price objective on the stock. Zacks Investment Research‘s price objective points to a potential upside of 17.19% from the stock’s previous close.

According to Zacks, “Suntec Real Estate Investment Trust invests primarily in retail and office purposes. Suntec Real Estate Investment Trust is based in Singapore. “

Separately, JPMorgan Chase & Co. lowered Suntec Real Estate Investment Trust from a “neutral” rating to an “underweight” rating in a research report on Friday.

SURVF stock remained flat at $$1.28 during midday trading on Tuesday. Suntec Real Estate Investment Trust has a 1-year low of $1.02 and a 1-year high of $1.34. The company’s 50 day moving average is $1.27 and its 200-day moving average is $1.17.

About Suntec Real Estate Investment Trust (Get Rating)

Listed on 9 December 2004, Suntec REIT holds properties in Suntec City, Singapore's largest integrated commercial development (including one of Singapore's largest shopping Mall), a 66.3% interest in Suntec Singapore Convention & Exhibition Centre, a one-third interest in One Raffles Quay, a one-third interest in Marina Bay Financial Centre Towers 1 and 2 and the Marina Bay Link Mall, and a 30.0% interest in 9 Penang Road.

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