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56

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Target prices and analyst recommendations

Report Date Recommendation Target price

11-02-16

Neutral

10.35

29-01-16

Buy

12.60

27-01-16

Buy

12.00

27-01-16

Buy

12.10

22-01-16

Buy

13.90

07-01-16

Sell

10.50

05-01-16

Buy

12.70

21-12-15

Buy

12.90

13-11-15

Neutral

11.30

08-10-15

Buy

12.50

28-09-15

Buy

12.90

17-09-15

Buy

12.41

11-09-15

Overweight

12.50

10-08-15

Outperform

12.40

21-07-15

Outperform

11.00

09-06-15

Buy

12.85

26-05-15

Buy

12.10

02-02-15

Buy

13.08

21-01-15

Buy

13.30

Consensus

12

.

14

MERLIN Properties has achieved the inclusion

in 2015 in two relevant indexes. On 22 June

2015, MERLIN was included in the Euro Stoxx

600 and on 21 December 2015, MERLIN was

included in the IBEX-35. MERLIN is also a

member of the FTSE EPRA/NAREIT Global

Real Estate, GPR Global Index, and MSCI Small

Cap indexes.

As of the date of this report, MERLIN is covered

by a wide variety of equity research houses, 19.

Consensus target price is 12.14

(1)

(1)

(1)

(1)

(1)

Prior to the capital increase of August