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Barclays downgrades Merlin due to the impact of Covid-19 on the office market

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Barclays experts lower the price of Merlin Properties socimi this Thursday to 8.80 euros from the previous 10 euros, while reiterating their advice to overweight. This new price is practically at the company's current listing levels, at 8.45 euros.

In the opinion of these experts, the Covid-19 has raised the question of whether, given current technology, do you still need a physical office space to work?

Currently, most offices are empty and employees are forced to work from home during the COVID-19 pandemic, many office companies have reported continued and strong productivity.

In any case, according to Barclays, "the new and existing factors that, in our opinion, affect the office sector in the short, medium and long term."

Telecommuting is here to stay. This is the "threat" that flies over the office rental market, which fears a sharp contraction in hiring. The pandemic has completely turned the tables on this business that set record figures at the end of last year and expected an even better 2020.

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