Icade: stock increases on broker upgrade
(CercleFinance.com) - Icade's share price is up in Paris on Friday, one of the best performers in the SBF 120 index after UBS upgraded its rating on it, along with an increase in its target price.
The broker - which has switched to buy from a neutral stance previously - believes that the potential presented by the real estate group's healthcare activities more than compensates for the difficulties of its office portfolio.
The stock is trading at a discount of twice its peers and three times its historical average, while its cash flow is improving and there are catalysts on the horizon, analysts note.
At 11:15 a.m., Icade shares were up 0.8%, while the SBF 120 index was down 0.7%.
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