Buy, Sell, Hold: What the brokers say

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In the good books

 GPT (GPT) Upgraded to Buy from Neutral by Citi B/H/S: 3/2/1

REIT specialists at Citi remain of the view that changing conditions for bricks and mortar retailers in Australia are structural, not cyclical. As a direct result, argue the analysts, retail landlords (as in: retail REITs) are not as attractive as their weak share prices might suggest.

Citi analysts believe retail exposure through diversified property owners such as GPT is a much better option, as they benefit from significant non-retail parts of the portfolio. GPT has now been upgraded to Buy from Neutral. Target price lifts to $5.59.

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