JPMorgan downgraded British Land to Neutral from Overweight with a price target of 410 GBp, down from 505 GBp. The analyst’s new base case for British Land includes City values falling 20% this year. The stock’s valuation isn’t stretched but catalysts for a re-rating look hard ahead of a turnaround in City offices, the analyst tells investors in a research note.
Protect Your Portfolio Against Market Uncertainty
- Discover companies with rock-solid fundamentals in TipRanks' Smart Value Newsletter.
- Receive undervalued stocks, resilient to market uncertainty, delivered straight to your inbox.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See today’s best-performing stocks on TipRanks >>
Read More on BTLCY: