Tokyo Tatemono upgraded to Buy from Neutral at Goldman Sachs

Goldman Sachs analyst Sachiko Okada upgraded Tokyo Tatemono (TYTMF) to Buy from Neutral with a 2,800 yen price target Japan’s real estate stocks continue to trade at a discount to net asset value, according to the analyst, who believes investors are pricing in “excessively bearish views on the impact of interest rate hikes in particular.”