Gecina: HSBC downgrades recommendation to 'hold

(CercleFinance.com) - HSBC announced on Monday that it had lowered its recommendation on Gecina shares from 'buy' to 'hold', as part of a review of French property companies.


While praising the French property management company's focus on its most promising assets, the quality of its portfolio and the promise of 6% growth in earnings per share (EPS) this year, the broker also considers it less exposed to a potential fall in interest rates, a factor it sees as the main catalyst capable of driving the sector.

The broker also highlights the company's lower valuation compared to its competitor Covivio.

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