Barclays Upgrades TAG Immobilien, Sets 11% Upside

Barclays raised TAG Immobilien to overweight, increasing price target to €17.30 from €15.20, implying ~11% upside.
Forecasts 5‑year FFO I CAGR of 5.5% and higher dividend payout (50% of FFO) boosting DPS to €0.52 in 2026.
Polish acquisition funded by €186m equity raise and €550m convertible bond repayment enhances earnings, with Robyg valued up to €1.13bn.
Barclays notes downside risks from higher swap rates and rising raw‑material costs.