URW: Oddo raises target price
(CercleFinance.com) - Oddo BHF maintains its "outperform" rating on Unibail-Rodamco-Westfield (URW) shares, while raising its target price for them to 70 euros (from 65 euros previously).
We believe that URW now has stronger assets to implement its strategy and the execution of URW's disposal plan could coincide with the stabilisation of interest rates in Europe and the US, the analyst says.
He also noted that, at 3.5 billion euros, cash at end-2022 enables the group to consider selling these assets at their fair price at the right time, without finding itself in a position of being forced to sell.
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