Icade: Barclays donwgrades stock
(CercleFinance.com) - Barclays has downgraded its recommendation on the Icade stock from weight in line" to "underweight," having cut its corresponding target price from 80 euros to 67 euros, in the wake of a 13% reduction in its earnings estimates for the real estate group.
The broker anticipates divestments amounting to 2.8 billion euros (70% to be finalised in 2019-20), and slowdown in its acquisition rate due to the scarcity of health assets and increasing competition in this market .
"The proceeds will be reinvested into developments and healthcare assets, but we do not expect this to offset the loss of income from disposals in the short term," the note 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 broker anticipates divestments amounting to 2.8 billion euros (70% to be finalised in 2019-20), and slowdown in its acquisition rate due to the scarcity of health assets and increasing competition in this market .
"The proceeds will be reinvested into developments and healthcare assets, but we do not expect this to offset the loss of income from disposals in the short term," the note adds.
Copyright (c) 2019 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.