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Raiffeisen Research has added Vonovia to its Top Picks list, citing its attractive valuation with a price-to-book ratio of around 0.8 amid rising yields. The demand for rentals in Germany is expected to remain strong due to affordability issues and a shortage of new buildings, while recent interest rate cuts are lowering refinancing costs. The updated Top Picks include notable companies such as 3M, Amazon, and Microsoft, alongside Vonovia.
UBS has maintained its "Buy" rating for Vonovia, setting a price target of 40 euros following the company's results, which met expectations. Analyst Charles Boissier noted that the real estate group is navigating a landscape of growing optimism alongside new uncertainties.
Investors are anticipating a significant financial package from the German government as the Bundestag prepares to vote on a multi-billion euro economic stimulus plan. Meanwhile, the Federal Reserve is expected to maintain interest rates during its upcoming meeting, with attention on Jerome Powell's press conference for further insights. Key economic indicators, including US retail sales and the ZEW index, will also be closely monitored this week.
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Raiffeisen Research Adds Vonovia to Top Picks Amid Attractive Valuation
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