Vonovia

Goldman Sachs downgrades Vonovia from "Buy" to "Neutral", takes the stock off its recommendation list and lowers the price target from €29.50 to €21.20. The share falls close to its 52‑week low, weighed down by weak free cash flow and high refinancing costs despite rising EBITDA. Political risk is also increasing due to Vonovia’s large Berlin housing stock and looming nationalization debates; fair‑value models sit well below consensus. » More on de.investing.com

Vonovia has offered Left leader Luigi Pantisano a meeting, which Pantisano accepted for October 13 with Vonovia CEO Luca Mucic. The company wants to clarify blanket and in some cases demonstrably false allegations about its activities, as well as the role of politics in the housing market. The initiative for talks comes against the background that the Left is threatening expropriations of housing corporations in the Berlin election campaign and names Vonovia as a central target. » More on deraktionaer.de

Vonovia shares turned positive after hitting a three-year low and showed a short-term rebound. The half-year result reports an adjusted EBITDA increase of 2.4%, while operating free cash flow collapsed by 45.4% due to net working capital effects and dividends. Management confirms the annual forecast and mid-term outlook; eight of eleven analysts still recommend buy with an average price target of €30.56. Investors should consider the interest-rate environment and their personal risk tolerance. » More on finanzen.net