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Covivio: H1 numbers welcomed by Oddo BHF
(CercleFinance.com) - Oddo BHF has confirmed its 'outperform' rating on and E54 target price for Covivio shares, following H1 results judged more than satisfactory, with a strengthening of FP (shareholders' equity) and good strategic visibility.
The broker points out that the property company has raised its 2024 recurring net income target to around E460m (from E440m initially), on the basis of strong operating momentum close to expectations.
Oddo BHF also notes that Covivio has secured 80% of its disposal target of E1.5bn by end-2024, and has taken a proactive approach to strengthening its top line, increasing its FP by E536m over the half-year.
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The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
The information and analyses published by Cercle Finance are intended solely as decision-making aids for investors. Cercle Finance cannot be held responsible, directly or indirectly, for the use of information and analyses by readers. Uninformed investors are advised to consult a professional advisor before investing. This information does not constitute an invitation to sell or a solicitation to buy.
The broker points out that the property company has raised its 2024 recurring net income target to around E460m (from E440m initially), on the basis of strong operating momentum close to expectations.
Oddo BHF also notes that Covivio has secured 80% of its disposal target of E1.5bn by end-2024, and has taken a proactive approach to strengthening its top line, increasing its FP by E536m over the half-year.
Copyright (c) 2024 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
The information and analyses published by Cercle Finance are intended solely as decision-making aids for investors. Cercle Finance cannot be held responsible, directly or indirectly, for the use of information and analyses by readers. Uninformed investors are advised to consult a professional advisor before investing. This information does not constitute an invitation to sell or a solicitation to buy.