URW: Invest Securities remains positive, adjusts TP
(CercleFinance.com) - Despite trimming its target price from E84 to E83.
1, Invest Securities maintains its 'buy' recommendation on Unibail-Rodamco-Westfield (URW) shares, believing the stock to be attractive from an intrinsic valuation point of view, even though visibility remains low on US asset arbitrage.
According to the broker, H1 results were blurred by the industrial accident at UberseeQuartier, the significant impact of which, which somewhat tarnishes the property company's reputation, should not be overestimated.
Operating data is good, as expected (vacancy relatively stable at excellent levels in Europe, net rents +5.6% LFL), and guidance maintained. Valuations are also stabilizing, it adds.
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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 a decision-making aid 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.
1, Invest Securities maintains its 'buy' recommendation on Unibail-Rodamco-Westfield (URW) shares, believing the stock to be attractive from an intrinsic valuation point of view, even though visibility remains low on US asset arbitrage.
According to the broker, H1 results were blurred by the industrial accident at UberseeQuartier, the significant impact of which, which somewhat tarnishes the property company's reputation, should not be overestimated.
Operating data is good, as expected (vacancy relatively stable at excellent levels in Europe, net rents +5.6% LFL), and guidance maintained. Valuations are also stabilizing, it adds.
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 a decision-making aid 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.