Wood sees weakness in Grivalia share as good entry point

Recent weakness in the shares of Grivalia Properties offers a good entry point into the stock for those looking to bet on the rebound of the Greek real estate sector, said brokerage Wood in a recent report.

Wood has a 10 euro price target on the share, which has lost about 6 percent in the last three months. This implies an upside on the share of about 16 percent from current level.

Grivalia shares are currently trading at around 8.60 euros on the Athens bourse.

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Wood added that it expects Grivalia's investment in Amanzoe to boost its EBITDA, as more villas could be added to the resort or it could start operating year round.