FY22 funds from operations (FFO) and DPS for Dexus Convenience Retail REIT were in-line with guidance, and Morgans maintains its Add rating and lowers its target to $3.71 from $3.78.

FY23 dual guidance was for FFO and DPS of 21.2-22cpu compared to the broker's forecast for 23cpu, as higher interest costs weigh.

The broker highlights a near-term focus on divestments for balance sheet flexibility.

Sector: Real Estate.

Target price is $3.71.Current Price is $3.04. Difference: $0.67 - (brackets indicate current price is over target). If DXC meets the Morgans target it will return approximately 18% (excluding dividends, fees and charges - negative figures indicate an expected loss).

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