Numis upgrades Capital & Regional from add to 'buy' after first-half results
Numis upgraded mall owner Capital & Regional from ‘add’ to ‘buy’ and upped its price target from 66p to 70p.
Capital & Regional
49.70p
08:30 25/04/24
-0.60%
-0.30p
FTSE All-Share
4,399.38
09:45 25/04/24
n/a
n/a
FTSE Small Cap
6,425.26
09:45 25/04/24
n/a
n/a
Real Estate Investment & Services
2,156.54
09:45 25/04/24
-0.29%
-6.36
Analyst Robert Duncan said the company’s valuation performance was strong for the first half of 2015, as capital values rose 6.2% across the portfolio.
The property firm had a stronger-than expected-yield shift and valuation performance for the first half of 2015, Duncan said, justifying an upgrade in full-year net asset valuations by 6%.
Duncan also noted investment is expected to accelerate in the second half of the year as works at Maidstone and Blackburn begin.
Shares in Capital & Regional were up 0.87% to 58p at 10.33 on Monday.