Proactive Investors - Run By Investors For Investors

Deutsche Bank downgrades Intu Properties to ‘sell’ from ‘hold’ following marathon shopping trip

The German bank also chopped its target price for the FTSE 250-listed stock back to 150p from 210p, with the shares currently changing hands at 177.5p each
Shopping centre
Deutsche Bank’s analysts pointed out that they visited 17 Intu shopping centre in 6 days, driving 1,500 miles

Deutsche Bank put the boot into real estate firm Intu Properties PLC (LON:INTU) on Thursday following a marathon shopping trip, downgrading its rating to ‘sell’ from ‘hold’.

The German bank also chopped its target price for the FTSE 250-listed stock back to 150p from 210p, with the shares currently changing hands at 177.5p each, down 3.9% on Wednesday’s close.

READ: Intu terminates Hammerson deal, believes in its stand-alone commercial future

In a note to clients, Deutsche Bank’s analysts pointed out that they visited 17 Intu shopping centre in 6 days, driving 1,500 miles.

They said: “We have travelled the length and breadth of the UK to visit Intu's English, Scottish and Welsh assets and answer the all-important question - Does Intu have a portfolio tail of weaker assets?

They concluded that while Intu’s management thinks otherwise, they are not convinced and consequently have cut their target and downgraded their rating for the stock.

View full INTU profile View Profile

Intu Timeline

Related Articles

Old person
October 04 2018
The value of its investment portfolio rose by 9% in the year to March
Kenya
October 02 2018
The Africa-focused property trust raised US$132mln when it joined the London market
Care room
September 05 2018
It is not the only listed operator in the healthcare sector but it is one of the few property companies to offer exposure to what is a low-risk, non-cyclical market

© Proactive Investors 2018

Proactive Investors Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use