Covivio has gained 1%, outperforming the trend in Paris, thanks to an upgrade by Jefferies from 'hold' to 'buy', with a price target raised from 48 to 53 euros, following a roadshow with the property company's management.

The broker believes that, despite the sale of 1.5 billion euros of assets over 2023-24, Covivio will be able to increase its adjusted EPRA earnings by 5% over this period, and that it has 'tackled its debt issues very effectively'.

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