Klepierre downgraded to Underweight from Neutral at JPMorgan

JPMorgan analyst Vanessa Guy downgraded Klepierre (KLPEF) to Underweight from Neutral with a price target of EUR 30, down from EUR 31. 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.