2306 GMT [Dow Jones] STOCK CALL: Goldman Sachs JBWere upgrades Macquarie Office, which has changed its name to Charter Hall (CQO.AU) today, to Buy from Hold, with 34 cent price target. Says market-implied downside risk for company's net tangible asset value looks overly bearish, even in worst case scenarios involving asset sales on debt recovery basis, covenant breaches, the likelihood of which is remote for some assets. Says catalysts for share price rally include U.S. office market recovery, firm earnings guidance.
CQO Price at posting:
$2.80 Sentiment: Buy Disclosure: Held
