On Thursday, Unibail-Rodamco-Westfield (URW) shares posted one of the biggest declines in the SBF 120 index, as Deutsche Bank lowered its target price for the stock.

Shortly before 2:30 pm, the commercial real estate group's shares fell by 0.9%, while at the same time the SBF 120 index advanced by 0.3%.

In a sector note, Deutsche Bank explains that it has adjusted its price targets on several players in the sector following the half-year earnings season, while maintaining its recommendations.

The broker points out that its recommendation to focus on German residential real estate specialists since January has so far yielded good results, prompting it to renew its buy on Vonovia and Instone.

For the rest, the broker maintains its preference for the most defensive stocks in the commercial real estate segment, namely Gecina, Klépierre and CA Immobilien.

In this context, Deutsche Bank has lowered its target price for Unibail-Rodamco-Westfield from 55 to 50 euros, while maintaining its 'hold' recommendation on the stock.

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