Altarea Cogedim: Invest Securities upgrades stock

(CercleFinance.com) - Invest Securities believes that the group's appointment of Jacques Ehrmann as Chief Executive Officer of Altarea Cogedim is excellent news for the group.


Jacques Ehrmann enjoys an excellent reputation in the sector, particularly after conducting two IPOs of listed property companies (Mercialys then Carmila) and gave the feeling of managing to deal with governance issues (conflicts of interest between a real estate company and a major shareholder), the broker says.

The broker maintains its 1-year target price of 185 euros and has upgraded its rating on the share Buy (vs. Neutral), given a total potential yield of 14%.


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