Deutsche Bank upgraded Aroundtown (AANNF) to Hold from Sell with a price target of EUR 2.80, up from EUR 1.60. The firm moves into 2025 with a significantly improved outlook compared to one year ago for European real estate. It sees lower rates, “benign” credit markets, a recovery of transaction markets and stabilizing yields as key drivers. Given this background, Deutsche feels comfortable with its recent switch to a “more opportunistic positioning.”
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