Unibail-Rodamco-Westfield: Jefferies raises TP
(CercleFinance.com) - On Tuesday Jefferies raised its price target for Unibail-Rodamco-Westfield shares from E92 to E99, while renewing its buy recommendation on them.
After the commercial real estate group's 2024 annual results, which it said illustrated its "operational strength", the broker said that it expects the stock to revalue to around 10x its FFO, a key measure of cash flow, against a backdrop of continued deleveraging.
The broker also expects the shopping center operator to redefine its growth trajectory at its next investor day, scheduled for 14 May.
Jefferies says that the group's strategic plan should focus on: (1) the scope of its new portfolio of assets in the United States, where E500m of disposals have yet to be finalised, (2) potential disposals in Europe, particularly in Eastern Europe, (3) new initiatives to monetize Westfield Rise, its in-house retail media agency, and (4) possible acquisitions, subject to continued deleveraging.
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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.
After the commercial real estate group's 2024 annual results, which it said illustrated its "operational strength", the broker said that it expects the stock to revalue to around 10x its FFO, a key measure of cash flow, against a backdrop of continued deleveraging.
The broker also expects the shopping center operator to redefine its growth trajectory at its next investor day, scheduled for 14 May.
Jefferies says that the group's strategic plan should focus on: (1) the scope of its new portfolio of assets in the United States, where E500m of disposals have yet to be finalised, (2) potential disposals in Europe, particularly in Eastern Europe, (3) new initiatives to monetize Westfield Rise, its in-house retail media agency, and (4) possible acquisitions, subject to continued deleveraging.
Copyright (c) 2025 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.