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Nexity: Stifel boosts target price

( - After a "solid" third quarter and Nexity's recent update of its forecasts, Stifel is raising its 2020 sales estimates for the real estate company by 4%.

The broker even notes that since its Q3 results, "the share price has recovered by c. 60%".

"We we raise our FY-20/21E adj. EPS by c.10%/30%, respectively," the analyst adds.

Due to this recent performance, Stifel maintains its 'hold' rating on Nexity shares, although has increased its corresponding target price by 36%, from 28 to 38 euros (current price about 39.5 euros, +1.5%).

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