Carmila: Société Générale begins coverage with buy rating.
(CercleFinance.com) - Société Générale (SG) has initiated its coverage of the Carmila stock with a buy rating.
According to analysts, this real estate company with “SIIC” status that has ties with Carrefour, owns and manages "The shopping centres of the future in France, Spain and Italy." SG has a 12-month target price of 29 euros for the share.
Carmila owns and manages over 200 shopping malls located near to Carrefour stores. However, the distributor is not a key client for Carmila, for which it represents less than 1% of rents. To a certain extent, stores leased by Carmila benefit from customers who also go shopping at Carrefour before or after.
SG adds that Carmila is not a captive real estate company of Carrefour: although Carrefour owns 35.8% of its capital, other financial investors, including insurance companies, own almost half of it. Furthermore, Carrefour only holds six of the 14 places on its board of directors. Even so, Carrefour provides Carmila with strategic and financial support.
Copyright (c) 2017 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.
According to analysts, this real estate company with “SIIC” status that has ties with Carrefour, owns and manages "The shopping centres of the future in France, Spain and Italy." SG has a 12-month target price of 29 euros for the share.
Carmila owns and manages over 200 shopping malls located near to Carrefour stores. However, the distributor is not a key client for Carmila, for which it represents less than 1% of rents. To a certain extent, stores leased by Carmila benefit from customers who also go shopping at Carrefour before or after.
SG adds that Carmila is not a captive real estate company of Carrefour: although Carrefour owns 35.8% of its capital, other financial investors, including insurance companies, own almost half of it. Furthermore, Carrefour only holds six of the 14 places on its board of directors. Even so, Carrefour provides Carmila with strategic and financial support.
Copyright (c) 2017 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.