Kepler ups Sagax to 'buy' on attractive price, strong logistics focus
20/01/2022 09:31
** Kepler Cheuvreux says Sagax SAGAa.ST has become more
attractive with the share price down 35% from its peak, as the
broker upgrades the Swedish real estate company to "buy" from
"reduce"
** "With excellent management and a very strong market, we
argue the stock should trade at a clear premium to the sector
average," the broker says
** It adds there is "still a very good market for
logistics", highlighting Sagax's 100% focus on logistics
compared to the lower exposure of its Swedish peers' Castellum
CAST.ST and Corem COREb.ST
** The broker says Sagax is likely to post another year with
20% growth in 2022 driven by further M&A, with its latest
acquisitions already demonstrating this trend early in the year
** Sagax stock, down 11% YTD, rises 3.4% in morning trade
(Reporting by Marie Mannes)
((Marie.mannes@thomsonreuters.com))