Klépierre shares significantly outperformed the Paris market, rising slightly on Thursday, boosted by a recommendation and target price upgrade from Deutsche Bank.

At 3.45 pm, the share gained 0.2%, one of the few gains on the SBF 120 index, which at the same time lost almost 1.5%.

In a wide-ranging study of European real estate specialists, the research firm praised the shopping center group for its "defensive" characteristics.

Deutsche Bank refers not only to the strength of its balance sheet and investments, but also to the protection afforded by the company's dividend and the high level of its exit rates, which protect it against a rise in interest rates.

The analyst also mentions the quality of the Group's assets, which he believes are attracting top-tier tenants, a trend that should help offset - against a backdrop of positive indexation - the decline in consumer sentiment in the looming recessionary environment.

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