First Berlin – Aroundtown Property Holdings Plc. Research Update (07/09/2017)

First Berlin Equity Research has published a research update on Aroundtown Property Holdings Plc. (ISIN: CY0105562116). Analyst Ellis Acklin reiterated his BUY rating and maintained his EUR 7.20 price target.

Effective 18 September, Aroundtown (AT) will enter Germany's SDAX index as part of the reshuffling of the DAX family of indices. The adoption follows several steps undertaken by management to boost the transparency of the company and share tradability including the uplisting to the German Prime Standard of the Frankfurt Stock Exchange. Once trading volumes pick up, we anticipate the company will quickly be eligible to join the MDAX. The next review is set to take place 5 December 2017. We recently upgraded our estimates and price target to €7.20 on the heels of a strong six month report and outlook. Our rating is Buy.