Merlin Properties upgraded to Overweight from Equal Weight at Morgan Stanley

Morgan Stanley upgraded Merlin Properties (MRPRF) to Overweight from Equal Weight with a EUR 16.50 price target The firm adjusted ratings in the European property space, saying real estate started outperforming only recently and investor positioning toward property stocks “has remained unusually light.” However, in a stagflation scenario, Morgan Stanley does not think the sector will “offer a place to hide.”