Euroxx starts coverage on Lamda shares, sees steep upside


Euroxx Securities started coverage on stocks of Lamda Development with price target of 12.60 euros per share, implying an upside of 75 percent from current levels.

The brokerage has an overweight rating on Lamda, the company that will build the 8 billion euro Hellinikon complex. Lamda poses the best way to obtain direct exposure to the Hellinikon complex and Greece's promising real estate sector, adds Euroxx.

Lamda shares were trading at around 7.19 euros on the Athens stock market on Wednesday. In the last three months, the shares have dipped 20 percent, versus gains of 4 percent booked by the bourse's general index.

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