Numis upgrades Capital & Regional from add to 'buy' after first-half results

Numis upgraded mall owner Capital & Regional from 'add' to 'buy' and upped its price target from 66p to 70p.Analyst Robert Duncan said the company's valuation performance was strong for the first half of 2015, as capital values rose 6.2% across the portfolio.The property firm had a stronger-than expected-yield shift and valuation performance for the first half of 2015, Duncan said, justifying an upgrade in full-year net asset valuations by 6%.Duncan also noted investment is expected to accelerate in the second half of the year as works at Maidstone and Blackburn begin.Shares in Capital & Regional were up 0.87% to 58p at 10.33 on Monday.