Following news Aareal Bank increased its operating profit forecast for 2015, Equinet AG upgraded the German property lender’s stock to a “Buy” rating. The firm has placed a €41 target price on the bank’s stock, which is currently valued at €30.74. Aareal’s stock has decreased 3.39 percent since the beginning of May, underperforming by 2.31 percent on the S&P 500 Index. Despite these figures, the bank’s Q3 results beat market expectations. Aareal now expects its operating profit for the year will range between €450m and €460m, up from earlier estimates of €400-€430m. The bank also increased its business target for 2015. It now expects to net between €8-€9bn.
