Nexity: Oddo raises target price
(CercleFinance.com) - Oddo maintains its "outperform" rating on Nexity shares and has increasing its corresponding target price from 55 euros to 57.
2 euros.
The broker stresses the excellent visibility on growth in 2021 and points out that the planned disposal of Aegide Domitys should significantly reduce the group's debt.
In a troubled residential sector (bookings down 22%), Nexity has managed to limit the fall in sales to 3% and therefore gain significant market share. The size of its order book (6.8 billion euros in property development) ensures excellent visibility on growth over the next two years (2021 underlying operating profit 2021: +23%), the analyst says.
The market seems to agree: the Nexity share is up over 2.5% in early trading on Friday.
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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.
2 euros.
The broker stresses the excellent visibility on growth in 2021 and points out that the planned disposal of Aegide Domitys should significantly reduce the group's debt.
In a troubled residential sector (bookings down 22%), Nexity has managed to limit the fall in sales to 3% and therefore gain significant market share. The size of its order book (6.8 billion euros in property development) ensures excellent visibility on growth over the next two years (2021 underlying operating profit 2021: +23%), the analyst says.
The market seems to agree: the Nexity share is up over 2.5% in early trading on Friday.
Copyright (c) 2021 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.