Barclays announced on Friday that it had raised its target price for Argan from €87 to €95, while maintaining its 'overweight' recommendation on the stock.

In a sector note devoted to European warehousing players, the research firm praises the medium-term structural growth potential of logistics specialists, but points out that their stock market valuations already factor in these development prospects.

Against this backdrop, the analyst says he is focusing on earnings growth for warehouse owners, which has led him to downgrade the UK's Segro to 'weight in line', but to raise his compatriot Tritax Eurobox to 'overweight'.

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