Bernstein ups Aedifica as Cofinimmo merger offers 'platform for growth'

Aedifica NV

16/12/2025 11:51

** Bernstein upgrades Belgian healthcare real estate firm Aedifica AOO.BR to "outperform" from "market-perform", saying its upcoming merger with Cofinimmo COFB.BR will give the combined entity a unique platform for growth

** The broker says the bigger portfolio and improved credit metrics will allow Aedifica to resume its growth strategy after three years of slower expansion, hindered by a period of higher financing costs and falling asset values

** It says the all-share combination, to be completed in 2026, will double the size of the pan-European portfolio of the combined entity to around 12 billion euros ($14 billion)

** It will also boost the combined group's market capitalisation to nearly 5.8 billion euros and give it the scale and expertise needed to lead consolidation in the healthcare real estate sector, Bernstein adds

** Out of 14 analysts that cover Aedifica, 10 rate the stock "strong buy" or "buy" and ​four "hold" - LSEG data

($1 = 0.8504 euros)

(Reporting by Clement Martinot)

((Clement.Martinot@thomsonreuters.com;))