'Time to breathe' - Jefferies downgrades Mercialys to 'hold'

Mercialys SA

21/04/2026 10:12

** Jefferies downgrades French retail property company Mercialys MERY.PA to "hold" from "buy" amid slower rental growth and strong share gains

** The broker states it is "time to breathe", noting company's Q1 like-for-like rental growth was affected by lower indexation alongside the liquidation procedures of four apparel retailers

** It adds the company is "not immune to the Middle East conflict and its impact on purchasing power and confidence" which softened March tenant sales

** Jefferies believes a further stock rerating requires stronger momentum in occupancy and profitable acquisitions following a 17% year-to-date share price increase

** Among the eight analysts covering Mercialys, four rate the stock "strong buy" or "buy" and ​four rate "hold" - LSEG data

 (Reporting by Clement Martinot)

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