Catena, Dios, Platzer: Handelsbanken's top picks in Swedish real estate
09/04/2024 10:03
** Handelsbanken says that financial easing from expected
rate cuts in 2024 is largely priced in among Swedish real estate
stocks and cautious valuation is reasonable at this point
** Brokerage expects earnings growth to be muted or negative
in coming years due to high funding costs and that in the short
term, rate cut expectations at risk if inflation does not ease
** It says its top picks among shares with decent liquidity
are Catena CATE.ST , Diös DIOS.ST and Platzer PLAZb.ST
** A mix of valuation, share price momentum, recent
performance and earnings trends prompt the broker to take a
short-term positive stance on Trianon TRIANb.ST , Platzer,
Stendörren STEFb.ST (all long-term "outperform"), Catena and
Diös (long-term "market perform")
** It cuts short-term rating of Fabege FABG.ST , KlaraBo
KLARAb.ST and Wihlborgs WIHL.ST to "hold" from "buy", NP3
NP3.ST to "sell" from "hold" and double downgrades Pandox
PANDXb.ST to "sell" from "buy"
** Atrium Ljungberg ATRLJb.ST and Sagax SAGAa.ST raised
to "hold" from "sell"
(Reporting by Jagoda Darlak)
((Jagoda.Darlak@thomsonreuters.com; +48 58 769 65 40;))