Aroundtown downgraded to Sell from Hold at Deutsche Bank

Deutsche Bank downgraded Aroundtown to Sell from Hold with a price target of EUR 1.60, down from EUR 2. The analyst reduced earnings estimates and expects the company’s reporting next week to be a negative catalyst. Aroundtown’s high leverage and accelerating value declines plus deteriorating operational performance in office are the “main areas of trouble and could require additional measures for cash preservation,” the analyst tells investors in a research note.