Mercialys: share up on broker comments

(CercleFinance.com) - On Tuesday, Mercialys shares were the biggest risers in the SBF 120 index, following an upgrade by analysts at Jefferies.


At around 2:30pm, the stock was up by over 3%, compared with a 0.6% gain for the SBF.

In a study of European listed real estate investment companies (SIICs), the US brokerage said it had raised its recommendation on the stock from "hold" to "buy", with a price target raised from E12.5 to E13.

In its note, the broker highlights the resilience of the shopping center operator's business model, judging that the takeover of Casino hypermarkets by other retailers could structurally boost its performance.

Given its solid balance sheet, the group is well positioned to move into investment mode, even if it could also represent a potential target with a view to sector consolidation, it concludes.


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