Broker snap: Land Securities 'good value'

19th Jul 2010 13:36

Land Securities is looking "good value" as the market awaits Wednesday's first quarter update and an investor conference on Friday.Panmure Gordon is looking for confirmation that the real estate giant continues to perform well and that capital growth should have at least kept pace with the IPD monthly index (+1.9% during the period). "We believe the central London office market remains one of the most attractive market segments for rental growth opportunities - Land Securities has significant exposure here and looks well placed to benefit from rising rents in our view," it told clients in a note Monday."The company's shares look good value in our view," said the broker, which keeps its 'buy' stance and target price of 656p.