Tom McKay

Credit Suisse upgrades Dexus to Neutral from Underperform. Dexus has the highest risk profile amongst its REIT peers with more than a third of leases expiring before June 2015. Credit Suisse believe this high risk is accounted for in managements conservative estimates and that Dexus has the highest quality portfolio in Australia. If leasings outcomes are better than expected then we could see a re-rating of DXS. Target prices is $1.17.


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