Following Scentre Group's operational update, Ord Minnett notes 95% of stores in Australia are now open and cash collections are estimated to recover to 90% from 75% for November and December. FY21 dividend guidance of 14cps was retained.

Based on numerous recent transactions supporting current book values, the broker increases its target price to $3.50 from $3.20 and maintains its Buy rating.

Sector: Real Estate.

Target price is $3.50.Current Price is $3.13. Difference: $0.37 - (brackets indicate current price is over target). If SCG meets the Ord Minnett target it will return approximately 11% (excluding dividends, fees and charges - negative figures indicate an expected loss).

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