** Barclays upgrades Swedish real estate company Castellum CAST.ST to "equal weight" from "underweight" as a prospective share buyback offsets a weaker earnings base

** The broker raises its PT by 24% to SEK 130 following large-scale asset sales that provide capital to fund share repurchases and lower debt

** It adds these transactions give management significant capital allocation flexibility, while investor confidence in Nordic offices remains fragile

** The broker adds the scale of the expected buyback materially improves the near-term equity risk-reward profile

** Barclays says the disposals reflect a "better company action, but not yet a better operating story" and that the buyback will act as a meaningful source of share price support

** Out of 16 analysts covering the stock, seven rate it "strong buy" or "buy", five "hold", and four "sell" or "strong sell" —LSEG data