Icade: Oddo BHF confirms its recommendation on the share

(CercleFinance.com) - Oddo BHF maintains its 'neutral' rating on Icade shares, with an unchanged target price of 27.
5 euros.

This morning, Icade published a net current cash flow (NCFC) / share from its strategic activities of 2.23 E (-18.1%), which reflects 'initial progress in implementing its strategic plan, but also markets under pressure', stresses the broker.

On the balance sheet side, EPRA NTA NAV/share stood at E62.6, down -6.8% on H1 24.

Icade still expects to deliver a pro forma CFNC 2024 of between E2.75 and E2.90 (-7.8% vs CFNC 2023) and an additional CFNC of E0.80 E from Icade Santé dividends based on its current shareholding, reports Oddo BHF.

According to the analyst, Icade's publication reflects weaker leading indicators than its office peers due to a less well-positioned asset portfolio.


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