KBC ups Care Property Invest to buy, sees outperformance in 2024

Care Property Invest NV

14/12/2023 13:35

** KBC raises Care Property Invest  CPINV.BR  to "buy" from
"accumulate", saying the Belgian health care real estate
investment trust is set to outperform the market next year
    ** The company will appoint a new CEO next year which could
be a short-term trigger for the stock, KBC says
    ** "We believe the negative view of the market on operators
will persist over 1H24 and news flow on Korian will dominate the
conversation," says KBC 
    ** However, KBC expects co's occupancy rates to recover 
    ** The company's upcoming debt maturities are covered when
taking into account relatively low costs to come next year and
in 2025, KBC adds 
    ** Co's shares are up about 4% on Thursday, and down about
3.7% YTD​
    

 (Reporting by Olivier Sorgho)
 ((Olivier.Sorgho@thomsonreuters.com))