Icade: Oddo BHF still on hold
(CercleFinance.com) - Oddo BHF maintains its 'neutral' rating on Icade shares, with an unchanged target price of E27.
5 (cp: E22, +5%).
This morning, Icade published a net current cash flow (NCFC)/share from its strategic activities of E2.23 (-18.1%), which reflects initial progress in implementing its strategic plan, but also markets under pressure, the broker says.
On the balance sheet side, EPRA NTA NAV/share stood at E62.6, down -6.8% on H1 24.
Icade still expects to deliver a 2024 pro-forma CFNC of between E2.75 and E2.90 (-7.8% vs CFNC 2023) and an additional CFNC of E0.80 from Icade Santé dividends based on its current shareholding, Oddo BHF says.
According to the analyst, Icade's publication reflects weaker leading indicators than its office peers due to a less well-positioned asset portfolio.
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.
5 (cp: E22, +5%).
This morning, Icade published a net current cash flow (NCFC)/share from its strategic activities of E2.23 (-18.1%), which reflects initial progress in implementing its strategic plan, but also markets under pressure, the broker says.
On the balance sheet side, EPRA NTA NAV/share stood at E62.6, down -6.8% on H1 24.
Icade still expects to deliver a 2024 pro-forma CFNC of between E2.75 and E2.90 (-7.8% vs CFNC 2023) and an additional CFNC of E0.80 from Icade Santé dividends based on its current shareholding, Oddo BHF says.
According to the analyst, Icade's publication reflects weaker leading indicators than its office peers due to a less well-positioned asset portfolio.
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.