OTCPK:SMMCF - Post by User
Post by
Digby8on Nov 10, 2021 8:19am
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Post# 34108820
BMO comment
BMO commentMore E-Commerce and Inventory Space Please; Increasing Target to $25 •Following a solid Q3/21, we maintain our Outperform rating on Summit. We expect the strong demand for industrial space in Canada will persist, which when combined with record low availabilities, should continue to place upward pressure on rents and occupancy.
•Furthermore, we expect ongoing long term value creation via SMU.UN's development pipeline.We believe SMU.UN's solid balance sheet and healthy access to favorable unsecured financing will further support its growth initiatives.
•We have increased our NAV estimate to $19.50 and our target price to $25.00.