Suntec

Suntec: JPMorgan upgrades to Neutral from Underweight, increases target to $1.40 from $1.25 after raising FY10-13 DPU est by 8%-14%. Sees less pressure for 2011 rental renewals, as Suntec's portfolio is more exposed toward smaller tenants in the resources, shipping and legal services sectors, and not in the traditional grade-A space where significant new supply is expected to come on stream.