Source - SMW
Morgan Stanley has upgraded its investment rating on Segro (LON:SGRO) to 'overweight' from 'equal weight', stating that the commercial property group is the "best quality play on one of Europe's cyclically most attractive assets classes (logistics), which should therefore prove resilient".

The City heavyweight added: "Rental growth in UK industrial and logistics is strong as demand outstrips relatively limited supply; this was underscored by the 4.1% like for like growth in net rents reported for 1H16, driven by an impressive 6.2% print in the UK."

Analysts have upped their target to 480 pence per share from 420 pence.