KBC cuts Aedifica and Cofinimmo rating after strong stock run

Aedifica NV

18/02/2026 12:39

Corrects Aedifica Reuters Intsrument Code in first bullet

** KBC Securities cuts Belgian healthcare property Aedifica AOO.BR and Cofinimmo COFB.BR to "accumulate" from "buy", citing less upside after a strong performance by Aedifica

** The downgrade follows Aedifica outperforming the EPRA developed index by over 15% since its upgrade in early November, limiting its remaining upside potential - says the broker

** Broker assesses the earnings exposure as "most contained for Aedifica, followed by Cofinimmo," amid negative sector sentiment

** KBC raises Aedifica's PT to 81 euros ($95.85)from 78 euros, reflecting a lower risk premium after concluding key tenant negotiations with Armonea

** Broker also lifts Cofinimmo's PT to 96 euros from 94.2 euros, noting the change reflects the updated view on Aedifica and the broader sector

($1 = 0.8451 euros)

(Reporting by Jerome Terroy)

((jerome.terroy@thomsonreuters.com))