Unibail-Rodamco-Westfield: Barclays raises TP

(CercleFinance.com) - Barclays announced on Monday that it has raised its price target for Unibail-Rodamco-Westfield shares from E91 to E100, while maintaining its 'overweight' recommendation on the stock.


In a research note, the analyst believes that the acquisition of 38.9% of the URW Germany joint venture from its partner Canada Pension Plan Investment Board (CPP Investments) - a transaction financed by the issue of new shares to be transferred to CPP - could be the first in a series of similar transactions.

The broker considers that there could indeed be other similar opportunities for the commercial real estate group, with the effect of reducing the complexity of its structure and obtaining greater control and flexibility over its assets while reducing its level of debt.


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