Covivio: Invest Securities still on hold

(CercleFinance.com) - Invest Securities maintains its "neutral" rating on Covivio shares, along with its target price of 76 euros, citing the group's December CMD, during which Covivio detailed its businesses and confirmed its aims.


Regarding offices, management highlighted its strategic positioning in the face of the crisis, the analyst notes, adding that Covivio plans to reposition 14% of its hotel assets towards less risky segments (domestic, leisure).

Overall, the broker expects the property group's NAV per share to grow by 4.8% p.a. from 2020 to 2026 to 5.45 euros, while liquidation NAV is expected to grow by 1.8% p.a. over this period to 99.8 euros.

The share is currently up about 0.7%, just trailing the market in Paris.


Copyright (c) 2022 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.