While many other sub-sectors are seeing more than 6% rental growth, Derwent's London-office market is lagging, though with its portfolio it should benefit from postpandemic demand for higher end office space, Numis analysts say in a research note. Numis retains its add rating and 3,050 pence price target. "We believe this will leave the group well invested for its medium-term growth ambition to achieve GBP250 million revenue in the current site," the analysts add. Shore has a buy rating on the stock. (michael.susin@wsj.com)Contact: London NewsPlus, paul.larkins@wsj.com(END) Dow Jones NewswiresAugust 10, 2023 12:23 ET (16:23 GMT)Copyright (c) 2023 Dow Jones & Company, Inc.

Source: Wall Street Journal August 10, 2023 16:31 UTC