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Deutsche Bank trims Workspace to ‘hold’ from ‘buy’ following recent share price performance

The German bank upped its target for the FTSE 250-listed stock to 1,300p from 1,200p, with the shares currently trading at 1,279p

Commercial property
Overall, the analysts said they continue to overweight German real estate stocks, remain neutral on France and stay cautious on the UK post-election

Deutsche Bank has trimmed its rating for Workspace Group plc (LON:WKP) to ‘hold’ from ‘buy’ while raising its target price following a strong recent share price performance by the commercial property specialist.

The German bank upped its target for the FTSE 250-listed stock to 1,300p from 1,200p, with the shares currently trading at 1,279p, up 1% on Thursday’s close.

READ: Hammerson dumps nine retail parks for £455mln

In a review of the European Real Estate sector, the Deutsche analysts said the Workspace move was one of several rating and target price changes, largely made following the strong share price performance of its ‘Top Picks’ over the past several weeks.

In the UK, the analysts also hiked their target price for Hammerson PLC (LON:HMSO) to 440p from 300p, maintaining a ‘buy’ rating on the FTSE 250-listed stock, which was trading at 226.50p on Friday, up 0.4% on Thursday’s close.

Overall, the analysts said they continue to overweight German real estate stocks, remain neutral on France and stay cautious on the UK post-election.

Quick facts: Workspace Group plc

Price: 692 GBX

LSE:WKP
Market: LSE
Market Cap: £12.73 m
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