Deutsche Bank sees 'risk for significant guidance miss' for Aroundtown, shares fall

Aroundtown SA

22/03/2024 08:27

** Shares of German real estate company Aroundtown  AT1.DE 
fall around 5.2% after Deutsche Bank downgrades to "sell" from
"hold" on "risk for significant guidance miss"
    ** "We downgrade the stock on reduced earnings estimates and
expect reporting next week to be a negative catalyst," the
broker says
    ** Deutsche Bank sees areas of trouble that might need
additional cash preservation on top of dividend suspension
announced on March 13
    ** The broker expects the investment case to remain negative
on a weak operating outlook, pointing to high leverage and
accelerating value declines
    ** The stock falls to the bottom of German midcap index
 .MDAXI 
    ** Out of 18 analysts covering the company, five rate it
"strong buy" or "buy", eight rate it "hold" and five rate it
"sell"

 (Reporting by Isabel Demetz)
 ((Isabel.demetz@thomsonreuters.com))