Gecina: Invest Securities raises target price
(CercleFinance.com) - Invest Securities confirms its buy rating on Gecina shares, with its target price raised from E111 to E118.
The broker reports that H1 operating data is of very good quality, with EPRA office vacancy down 20bp to 6.0% and average captured reversions of +14%.
Against a backdrop of high indexation (impact of +6%) and low medium-term cost of debt, H1 2024 RNR (E3.2) grew strongly by +8.4% (2024 guidance +5.5%/+6.5% confirmed).
Armed with a very solid balance sheet, the real estate company will be able to invest in its committed pipeline (yield of 5.4% for offices) and possibly be opportunistic, the analyst says.
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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 reports that H1 operating data is of very good quality, with EPRA office vacancy down 20bp to 6.0% and average captured reversions of +14%.
Against a backdrop of high indexation (impact of +6%) and low medium-term cost of debt, H1 2024 RNR (E3.2) grew strongly by +8.4% (2024 guidance +5.5%/+6.5% confirmed).
Armed with a very solid balance sheet, the real estate company will be able to invest in its committed pipeline (yield of 5.4% for offices) and possibly be opportunistic, the analyst says.
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.