Altarea: Oddo BHF raises TP

(CercleFinance.com) - Oddo BHF reiterates its 'outperform' rating on Altarea shares, with a target price raised from E112 to E120, given the improved visibility on the restoration of the group's profitability with renewed fundamentals and better diversification.


The group is now determined to continue implementing its medium-term roadmap in an environment expected to be uncertain, aiming to deliver FFO of around E300m in three to four years' time, it says.

The broker also believes that the real estate group has a more solid foundation and greater visibility than a year ago, with a view to ramping up its traditional and new activities.


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