Merlin Properties stock: Jefferies keeps EUR 16 target as Merlin Properties stock returns to Buy

Published on 10/20/2026 at 17:02 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Nine-month results are due November 13, 2026. Merlin Properties stock costs EUR 11.54 on October 20, 2026, up 0.35 percent versus Xetra close.

Jefferies restores Buy rating

Jefferies upgraded Merlin Properties from Hold to Buy with a EUR 16.00 target on October 14, 2026.
Merlin Properties is scheduled to publish nine-month 2026 results on November 13, 2026.
Merlin Properties stock costs EUR 11.54 at Lang & Schwarz on October 20, 2026 at 4:43 p.m. CEST, 0.35 percent above the Xetra close of October 19, 2026.
The stock's 52-week range is EUR 11.18 to EUR 15.92, while market capitalization is EUR 7.1 billion.

Merlin Properties, ES0105025003, Illustration mit AI erstellt.

Jefferies upgraded Merlin Properties from Hold to Buy and kept its EUR 16.00 price target on October 14, 2026, according to Markets Insider. The target stands 38.82 percent above the EUR 11.54 price at Lang & Schwarz on October 20, 2026 at 4:43 p.m. CEST, while the stock was 0.35 percent above the Xetra close of October 19, 2026 at EUR 11.50.

Jefferies weighs data center risk

Jefferies cited Merlin's exposure to CoreWeave as a risk for the data center portfolio, but also pointed to contractual protections, installed equipment and scarce connected power. The assessment gives the rating change a specific counterweight rather than presenting the EUR 16.00 target as a one-way signal.

Merca2 reported on October 19, 2026 that Merlin will publish results for the first nine months of 2026 on November 13, 2026. The date is the next scheduled company event in the current calendar.

Stock stays below yearly high

Merlin Properties traded inside a 52-week range of EUR 11.18 to EUR 15.92 on October 20, 2026. At EUR 11.54, the stock stood 27.51 percent below its yearly high and 3.22 percent above its yearly low. Market capitalization was EUR 7.1 billion, and the finance data snapshot showed a price-to-earnings ratio of 8.18.

What does the target mean?

The EUR 16.00 target places the current price 38.82 percent below Jefferies' valuation. That gap is wider than the daily move, so the rating change matters more for the stock's medium-term framing than the 0.35 percent session difference.

Historical operating reference

Merlin's most recent report supplied to investors covered the first quarter of 2025. In that period, gross rents reached EUR 132.5 million, up 6.7 percent from the first quarter of 2024, while EBITDA rose 8.9 percent to EUR 102.0 million. The report also showed 96.7 percent occupancy and funds from operations of EUR 84.2 million, up 16.9 percent year over year, according to Merlin Properties.

Stock position and next date

For investors, the November 13 reporting date will test whether operating figures support the valuation gap identified by Jefferies. The central points are data center tenant concentration, leasing progress and the relationship between recurring cash generation and the EUR 16.00 target.

Merlin Properties was trading at EUR 11.54 at Lang & Schwarz on October 20, 2026 at 4:43 p.m. CEST, up 0.35 percent versus the Xetra close of October 19, 2026 at EUR 11.50. The further course of trading is shown by the continuously updated real-time quote of Merlin Properties stock.