Colonial SFL upgraded to Neutral from Sell at Goldman Sachs

Goldman Sachs analyst Jonathan Kownator upgraded Colonial SFL (IMQCF) to Neutral from Sell with a price target of EUR 5.24, up from EUR 4.87. As mentioned in Colonial’s Q3 earnings call, the company could accelerate capital recycling, given still elevated leverage, the analyst tells investors in a research note. Colonial management has also mentioned that it now has visibility on EUR 500M of disposals, with 2/3 already linked to identified assets and active bidders, with a focus on non-core, lower-yielding assets, particularly in Spanish residential markets where appetite remains strong, but also in Paris for mature assets, the firm added.