Carmila: Invest Securities raises target price

(CercleFinance.com) - Invest Securities maintains its "buy" rating on Carmila shares, increasing its target price for them from E17.
1 to E18, highlighting fundamentals that support the solid performance of the stock's dividend over the medium term, after the property company's annual results.

Highly satisfactory operating data is in line with the good organic growth (+4.2%) which led to an increase in the recurrent NP/share of +26% (including the impact of Covid) to E1.56 per share, the analyst points out.

It adds that the property company's risk/return ratio remains very attractive and is supported by its careful governance of minority shareholders. In addition to highly accretive share buybacks, the company offers a secure return of at least 7% over five years.


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