Jefferies initiated coverage of Merlin Properties with a Buy rating and EUR 9.70 price target. The analyst initiated coverage on the European real estate investment trust sector with nine Buys, nine Holds and six Underperforms. The firm says that while leverage will likely remain a concern, it has a constructive view on the sector. A lot of bad news is already priced in and the sector has always performed positively when the Federal Reserve has stopped hiking rates, the analyst tells investors in a research note.
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