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Klépierre: share price up, broker raises target

( - Klépierre gained nearly 1% in Paris after Oddo BHF confirmed its 'outperform' rating on the stock this morning, with a price target raised from 27 to 28.
5 euros.

The analyst reports that last night Klépierre announced the completion of the acquisition of RomaEst, one of Rome's largest shopping centers, for over ?200 million. Oddo BHF estimates a yield of over 6.5% for the acquisition of the entire share capital of this asset.

Against this backdrop, S&P last night upgraded Klépierre's LT credit rating from 'stable' to 'positive outlook'. On May 24, Fitch confirmed its 'A-' rating with stable outlook on Klépierre's senior unsecured debt.

We consider that these two confirmations are likely to support the generation of net current cash flow and therefore our Outperform opinion on the share", concludes the broker.

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