Colonial: BarCap initiates coverage with 'buy' rating
(CercleFinance.com) - As part of a sector study on Spanish real estate companies, Barclays Capital (BarCap) has initiated its coverage of the Colonial stock with a buy (“overweight”) rating.
The broker has a target price of 11 euros, which suggests upside potential of nearly 15%.
After a visit to Spain, analysts point out that playing the Spanish property sector has for some time been a consensual bet, which means that investors should be selective. With Neutral ("weight in line") ratings on Merlin Properties, BarCap is however more aggressive on Spain's second largest real estate group.
Its report says that “We find that Colonial is the best positioned in Spain to benefit from above European average economic growth this year, thanks to the quality of its well-located office portfolio.”
Copyright (c) 2018 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
The broker has a target price of 11 euros, which suggests upside potential of nearly 15%.
After a visit to Spain, analysts point out that playing the Spanish property sector has for some time been a consensual bet, which means that investors should be selective. With Neutral ("weight in line") ratings on Merlin Properties, BarCap is however more aggressive on Spain's second largest real estate group.
Its report says that “We find that Colonial is the best positioned in Spain to benefit from above European average economic growth this year, thanks to the quality of its well-located office portfolio.”
Copyright (c) 2018 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.