Altarea: Oddo reduces target price
(CercleFinance.com) - Pending better visibility, Oddo maintains its neutral rating on Altarea shares, although has reduced its corresponding target price to E132 (from E139).
The broker says that Altarea is one of the most interesting companies from a medium-term investment stance, given its growth potential and guaranteed dividend, which expects a 2023 FFO of 231 million euros (-16% yoy), or 10.96 euros per share.
Nevertheless, Oddo believes that in the near term the main catalyst is the recovery of its residential property development business.
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The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
The broker says that Altarea is one of the most interesting companies from a medium-term investment stance, given its growth potential and guaranteed dividend, which expects a 2023 FFO of 231 million euros (-16% yoy), or 10.96 euros per share.
Nevertheless, Oddo believes that in the near term the main catalyst is the recovery of its residential property development business.
Copyright (c) 2023 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.