URW: Invest Securities raises target price

(CercleFinance.com) - Invest Securities confirms its 'buy' rating on URW (Unibail-Rodamco-Westfield) shares, raising its target price for them from E79 to E84, with the integration of lower financial costs.


URW has published excellent operating data for 2024, albeit with a few points to watch out for (much lower reversions in H2 2023, EBITDA margins significantly lower than in 2019), the analyst notes.

The recovery of distribution (albeit at a low level), with a commitment to rise in line with divestments, limits visibility on a share that suffers from the absence of a reliable timetable for divestments in the US, the broker continues, nevertheless deeming URW "intrinsically undervalued".


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