Covivio: Invest Securities upgrades directly to 'buy'

(CercleFinance.com) - Invest Securities has upgraded its recommendation on the Covivio share directly from "sell" to "buy," while cutting its target price from 87 euros to 72 euros (currently 67.
6 euros, up 3.4%), in a report updating its forecasts for a number of real estate stocks.

The broker says that the search for long-term partnerships with select lessees and the international diversification of Covio's property portfolio are all factors that limit the impact that crises have on rents.

It adds that despite its exposure to the hotel sector (16% of revenues), the real estate company should continue to post positive growth in rents on a like-for-like basis and suffer only a relatively moderate decline in the value of its assets (-12.5%).


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