Gecina: Goldman Sachs upgrades stock

(CercleFinance.com) - Goldman Sachs on Monday upgraded Gecina shares from 'neutral' to 'buy', albeit with a target price reduced to E112 (from E114.
6), representing 20% upside potential.

In a study of European real estate stocks, the analyst believes that the share's recent underperformance creates a buy opportunity for investors.

Despite solid 2023 annual results, the stock is suffering, in its view, from the market's aversion to the office property sector, irrespective of the quality of the company's fundamentals.

However, Goldman Sachs argues that the current share price offers an attractive entry point for a company that is performing well in a very tight office property market in central Paris.

The broker forecasts average annual EPS growth of 8% over 2023-2026.


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