(CercleFinance.com) – Unibail-Rodamco-Westfield (URW) shares posted one of the biggest drops in the SBF 120 index on Thursday as Deutsche Bank lowered its price target on the stock.
Shortly before 2:30 p.m., the title of the commercial real estate group fell by 0.9% while at the same time, the SBF 120 index advanced by 0.3%.
In a sector note, Deutsche Bank explains that it has adjusted its price targets on several players in the sector following the half-year results publication season, while maintaining its recommendations.
The broker emphasizes that its recommendation to favor German residential real estate specialists since January has so far yielded good results, which pushes it to renew the purchase on Vonovia and Instone.
For the rest, the broker maintains its preference for the most defensive securities in the commercial real estate segment, namely Gecina, Klépierre and CA Immobilien.
In this context, Deutsche Bank lowers its Unibail-Rodamco-Westfield price target from 55 to 50 euros, while maintaining its ‘hold’ recommendation on the stock.