RBC Capital Markets downgrades its opinion on Klepierre from 'Outperform' to 'Sector Perform' and adjusts its price target to 23 E (from 22.50 E).

' Its shares have outperformed our hedge by 31% over the past year. While the earnings yield offered by the share price remains attractive in absolute terms, we believe that weaker market trends in the short term increase the risks to financial performance' says the analyst firm.

' We are making limited revisions to our EPS forecasts: -1%, 0% and +3% for the next three years ' stresses RBC Capital Markets.

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