Gecina shares were one of the strongest performers in the SBF 120 index on the Paris Bourse on Wednesday, as Deutsche Bank ranked the stock as one of its favorites in the European real estate sector.

At around 3:30 pm, Gecina shares were up 2.3%, while the SBF index was up 0.6%. The share has gained nearly 4% since the start of the year.

Deutsche Bank, which has made the French property company one of its favorite stocks in the sector alongside Klépierre, Merlin, Vonovia and Instone, renews its buy recommendation on the share, but with a price target reduced from 120 to 110 euros.

The research firm is expecting another difficult year for the sector in 2024, particularly in the first half due to the impact of recent interest rate hikes.

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