Covivio: share price rises as HSBC raises its recommendation

(CercleFinance.com) - Covivio shares rose on the Paris Bourse on Monday, after HSBC raised its recommendation on the property company from "hold" to "buy".


At around 4:30 pm, Covivio shares gained more than 0.6%, while the SBF 120 index lost around 0.2% at the same time.

In a study of French commercial real estate specialists, HSBC praises the group's strategy of refocusing on quality assets, as well as its improved recurring performance.

The British bank also highlights Covivio's "cheaper" valuation compared with that of its rival Gecina.

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