Deutsche Bank reckons Savills PLC (LSE:SVS) offers investors geared exposure to a recovery in commercial property markets.
“We think the benefits of Savills investment/growth will materialise when real estate volumes improve," DB analyst Chris Millington said in a note.
"We think the first sign of this recovery was seen in Q4 2024, before tariff and geopolitical uncertainty led to a pause in activity in Q2 2025.”
Millington believes the pause is expected to be temporary, with record pipelines of future work positioning Savills to capture upside when activity resumes.
Deutsche Bank highlighted the contrast between Savills’ shares, down 20% year-on-year, and US peers, which are trading strongly near all-time highs.
The German bank repeated a 'buy' rating, and upgraded its target price to 1,343p from 1,319p.