Unibail-Rodamco: stock down after Q1 results

(CercleFinance.com) - The Unibail-Rodamco-Westfield share is down about 2% on Thursday afternoon, after the real estate company published Q1 2021 sales of 566.
7 million euros, down 40.8%, dogged by Covid-19 restrictions and divestments of 2020.

Despite some predictable albeit subdued operating data, the results publication was particularly marked by the announcement of two disposals totaling 750 million euros at very small discounts relative to the latest valuations, the broker notes.

Debt pressures has been somewhat relieved and this gives hope for other arbitrages in satisfactory conditions, analysts add, who therefore maintain their "buy" rating on the stock, having increased its corresponding target price from 73 euros to 77 euros.


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