BUZZ-BofA sees upside potential for European real estate; ups LondonMetric, Shurgard
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BofA Research highlights significant upside potential for European real estate stocks, citing 20-year low valuations and doubled returns on equity. The firm upgrades LondonMetric and Shurgard to 'buy' due to strong earnings growth and appealing valuations. Conversely, Colonial is downgraded to 'underperform' due to risks from its shift to life science offices and political uncertainties in France. BofA also downgrades Segro, British Land, and Great Portland to 'neutral' as higher UK rates diminish the attractiveness of low rental returns.
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