Goldman upgrades Great Portland, Derwent London

by | Sep 15, 2023

(Sharecast News) – Goldman Sachs upgraded its stance on Great Portland Estates and Derwent London on Friday.
GPE was lifted to ‘neutral’ from ‘sell’ and the price target to 400p from 360p. The bank said it expects West End market locations, particularly “core”, to deliver a better fundamental asset performance than previously anticipated.

Meanwhile, Derwent was upgraded to ‘buy’ from ‘neutral’ and the price target bumped up to 2,090p from 1,960p.

Goldman said it has greater confidence in West End market fundamentals and that the 14% share price underperformance versus peers in the last three months has created a “steep” valuation discount.

Related articles

RBC Capital cuts Rentokil price target

RBC Capital cuts Rentokil price target

(Sharecast News) - RBC Capital Markets cut its price target on Rentokil Initial on Wednesday to 575p from 610p as it downgraded forecasts for forex and a greater back-end loading of TMX synergies, but said it believes the long-term story remains intact. The bank said...

Trending stories

Join our mailing list

Subscribe to our mailing list to receive regular updates!

x