Tikehau Capital: RBC lowers target price

(CercleFinance.com) - RBC announced on Wednesday that it had lowered its target price for Tikehau Capital shares from E28 to E27, while renewing its buy recommendation on them.


Following the publication of the alternative asset management group's H1 results, the Canadian broker said it had reduced its annual earnings estimates for 2024 to 2026 by an average of 23%.

RBC explains that it has reduced its estimates for the asset management business, mainly in real estate strategy and private debt, following the decline in operating margin seen in H1.

The broker is also reducing its forecasts for income from the group's investment portfolio, saying it is less confident in the group's ability to achieve a return on equity of 10% to 15%.


Copyright (c) 2024 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.