Jefferies upgrades Merlin Properties stock to Buy at EUR 16.00

Published on 10/19/2026 at 09:59 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Jefferies moved Merlin to Buy at EUR 16.00 on October 14, 2026. Merlin Properties stock costs EUR 11.48 on October 19, 2026, above EUR 11.28.

Analyst stance and operating scale

Jefferies changed its Merlin Properties rating on October 14, 2026.
First-half 2026 revenue reached EUR 308.0 million, up 11.70 percent.
Merlin Properties stock trades at EUR 11.48 at 9:51 a.m. CEST at Lang & Schwarz on October 19, 2026.
Merlin Properties is scheduled to present its next results on November 13, 2026.

Merlin Properties, ES0105025003, Illustration mit AI erstellt.

Merlin Properties (ES0105025003) stock was trading at EUR 11.48 at Lang & Schwarz on October 19, 2026, while the 52-week range stood at EUR 11.28 to EUR 15.92. Markets Insider reported that Jefferies upgraded Merlin Properties from Hold to Buy on October 14, 2026, while keeping its price target at EUR 16.00.

Jefferies keeps the target unchanged

The rating change matters because Jefferies altered its view without raising the valuation level. The EUR 16.00 target was unchanged, leaving a target that is EUR 4.52 above the Lang & Schwarz price. The source said the analyst viewed higher-for-longer rates and a possible second valuation decline as key risks for European real estate.

The recommendation also follows a period in which investors have focused on Merlin's data center expansion and financing needs. Benzinga reported that first-half 2026 revenue reached EUR 308.0 million, up 11.70 percent, while 160 megawatts of data center capacity had been leased or pre-leased against a 200 megawatt target for 2026.

What will the next report test?

The next results should show whether contracted data center capacity is translating into recurring income. Benzinga reported that Merlin Properties was scheduled to present those results on November 13, 2026, giving investors a dated checkpoint for leasing progress, power connections and the balance between growth investment and leverage.

Merlin Properties is a diversified real estate investment company focused on offices, logistics, shopping centers and data centers in Spain and Portugal. Its latest company presentation identified the IBEX 35 as its benchmark index and described 3M25 revenue of EUR 138.0 million, EBITDA of EUR 102.0 million and occupancy of 96.70 percent, all historical figures from the first quarter of 2025.

Stock stays near its yearly low

The current Lang & Schwarz quote of EUR 11.48 sits EUR 0.20 above the reported 52-week low of EUR 11.28. The BME listing closed at EUR 11.66 on October 16, 2026, according to the dated market reference used for the Spanish listing.

Trading at Lang & Schwarz stood at EUR 11.48 on October 19, 2026 at 9:51 a.m. CEST.

The further course of trading is shown by the continuously updated real-time quote of Merlin Properties stock.