SGP rallied +2.8% on Thursday, helping the Real Estate Sector claim the top spot, finishing the session up +1.6%. We see two catalysts that can lead to a strong year ahead for SGP: additional capital partnerships to fund the development pipeline and/or lower interest rates. It’s our view at MM that the RBA will hold off from hiking interest rates this year, assuming inflation doesn’t rise any further, which should help push the Real Estate stocks higher – the market-friendly CPI print in the US last night should support this view.
- We see testing $5 as financial markets pivot away from the concern/belief that the RBA might hike again in 2024.
MM is bullish towards SGP
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