Risks in European property sector now more balanced; Merlin Properties upgraded to Overweight due to growth potential in data centres
Morgan Stanley | Bart Gysens (analyst) revises down the bearish scenarios for the European property sector and maintains an Attractive view, although he highlights that risks are now more symmetrical. He ranks the sector according to five criteria: 1) impact of higher interest rates; 2) HALO characteristics (heavy assets with low obsolescence); 3) ability to go on the offensive and/or scope for self-correcting measures; 4) significant changes in fundamentals —such…
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