Buy, Hold, Sell – What the Brokers Say

Founder of FNArena
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In the good books 

ABACUS PROPERTY GROUP (ABP) was upgraded to Outperform from Neutral by Credit Suisse 

Credit Suisse revises estimates in light of the current conditions. The broker assumes around 25% of tenants have sought rental relief. Within the storage portfolio, there appears to be no material impact of mandatory closures or social distancing, but income assumptions are conservatively lowered. Credit Suisse does not believe Abacus Property needs to raise equity for defensive purposes as gearing is well below the covenants. The broker assesses the downside risks are more than priced in and upgrades to Outperform from Neutral. Target is reduced to $2.86 from $3.93. 

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