TSX:CHP.UN - Post by User
Post by
junglejameson Jan 23, 2023 8:41am
290 Views
Post# 35239324
analyst recommendation fwiw
analyst recommendation fwiwnow that the sp is approaching an all-time high the analyst suddenly begin to appear recommending the shares...
iA Capital Markets analyst Gaurav Mathur recommends investors "become more active" in the Canadian REIT sector in 2023, expecting "multiple opportunities to materialize and create significant value in an increasingly volatile year ahead." The Globe's David Leeder writes that Mr. Mathur has resumed coverage on Choice Properties REIT with a "buy" recommendation and $16 unit target. Analysts on average target the units at $15.47. Mr. Mathur says in a note: "We expect the correction in the Canadian real estate sector, which began in mid-2022, to continue in 2023 as the sector and broader economy absorb the effects of higher interest rates, higher cost of capital, softening fundamentals, and capital constraints. The volatility ensured that most investors remained on the sidelines as the S&P/TSX Capped REIT Total Return Index printed a 17-per-cent loss in 2022. While the sector has rebounded in the past from material down years, we believe that the challenges ahead are very different from those seen in past rebounds. ... While the sector will continue to remain in risk-off mode, we may begin to see a risk-on sentiment at some point in 2023."