First Berlin Equity Research Reaffirms Buy Rating for Grand City Properties S.A. Amid Positive Market Sentiment

First Berlin Equity Research has updated its analysis on Grand City Properties S.A (ISIN: LU0775917882). Analyst Ellis Acklin has reiterated a Buy rating, raising the price target from EUR 14.40 to EUR 15.10.

The research update follows the EPRA 2024 Conference in Berlin. The event, attended by global stakeholders, highlighted a more optimistic sentiment compared to previous years. Attendees generally felt that the worst of the sector's downcycle is behind them.

During the conference, First Berlin Equity Research had the opportunity to inspect Grand City's local residential properties. The tour demonstrated the quality and strategic positioning of these assets, reinforcing the firm's view that GCP is well-positioned for long-term gains.

Consequently, the Buy recommendation for Grand City Properties remains, with an adjusted price target of EUR 15.10, influenced by the recent lower yields on German 10-year bonds.