Unite Group upgraded to Overweight from Neutral at JPMorgan

JPMorgan analyst Neil Green upgraded Unite Group (UTGPF) to Overweight from Neutral with a price target of 1,070 GBp, down from 1,100 GBp. The firm updated models in European property for new bond yield forecasts, moderate capital growth assumptions broadly while assuming rental growth across the board broadly slows and higher debt costs appear on refinancing. It adjusted ratings in the sector accordingly.