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Investing.com - Barclays (LON:BARC) has upgraded Cofinimmo (BR:EBR:COFB) from Underweight to Equalweight while raising its price target to EUR77.00 from EUR75.00, citing fair valuation for income-seeking investors.
The upgrade follows Barclays’ model update after Cofinimmo’s H1 results, with the firm now forecasting an 8.2% FY25E EPS yield that remains broadly flat over its forecast horizon.
Barclays notes this compares favorably with competitor Aedifica’s 7.7% FY25E EPS yield and 1.6% Earnings CAGR, suggesting Cofinimmo shares are appropriately valued for investors focused on core income.
The research firm also points out that Aedifica’s existing offer for Cofinimmo provides an anchor for the share price, adding stability to the investment case.
The 3% price target increase to EUR77.00 reflects Barclays’ higher EPS estimates for the Belgian real estate investment trust.
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