Europe's unloved property stocks due a revisit, Exane says

LEG Immobilien SE

Today 13:37

** Exane BNP initiates coverage of nine European real estate companies, saying it now may be an interesting time to revisit the space
** Exane re-initiates European shopping mall operator URW URW.PA at "outperform" and an €113 TP, citing its premium portfolio positioning and strong United States exposure
** Exane analysts initiate coverage of British logistics property companies Tritax Big Box BBOXT.L with 'outperform' and a £190 TP, citing its potential to evolve into a data centre story
** Brokerage starts Shurgard SHUR.BR, at "outperform" and a €28 TP, due to anticipated growth rebounds and potential acquisition prospects
** The analysts start residential property group TAG Immobilien TEGG.DE at "outperform" with a €15.5 TP, and LEG Immobilien LEGn.DE at "underperform" with a €53 TP, due to German debt repricing and high leverage headwinds
** Dutch logistics park developer CTP CTPNV.AS is rated at "outperform" with a €21 TP, with the analysts citing a robust growth outlook, driven by the nearshoring of supply chains
     
Company name
RIC
Rating
Target Price
Gecina
GFCP.PA
Underperform
€70
Klépierre
LOIM.PA
Neutral
€36
Unibail-Rodamco-Westfield (URW)
URW.PA
Outperform
€113
Tritax Big Box
BBOXT.L
Outperform
£190
SEGRO
SGRO.L
Neutral
£890
Shurgard
SHUR.BR
Outperform
€28
TAG Immobilien
TEGG.DE
Outperform
€15.5
LEG Immobilien
LEGn.DE
Underperform
€53
CTP
CTPNV.AS
Outperform
€21

 (Reporting by Zakarya Meliani)
 ((zakarya.meliani@thomsonreuters.com))