Is this U.S.-China selloff a buy? A top Wall Street voice weighs in
Investing.com - Bernstein has raised its price target on Merlin Properties SA (BME:MRL:SM) (OTC:MRPRF) to EUR15.50 from EUR14.00 while maintaining an Outperform rating.
The Spanish real estate company has delivered a 29% total shareholder return so far this year, significantly outperforming the 6% return across Developed Europe, according to Bernstein.
Bernstein attributes the strong performance to Merlin’s ongoing Data Centre transformation, with positive developments driving most of the outperformance over recent months.
The research firm sees further momentum ahead as Merlin unlocks value creation potential from its sizeable Data Centre pipeline, noting that its sum-of-the-parts analysis suggests the majority of this upside is not yet priced into the shares.
Merlin Properties remains one of Bernstein’s top picks in the European Real Estate sector.
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