Icade: UBS still a buyer after trading update

(CercleFinance.com) - UBS confirms its 'buy' recommendation on Icade shares, maintaining a TP at E37, representing 52% upside potential for the stock, the day after the real estate group's Q1 2024 trading update.


From this publication, the broker highlights that indexation continues to drive positive like-for-like rental variation, while markets are still facing challenges.

It also summarises a performance gap that has never been so wide between 'well-positioned' offices (+5.1% on a comparable basis) and offices in need of repositioning (-16.9% on a comparable basis).


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