Gecina: stock up on broker upgrade
(CercleFinance.com) - Gecina shares are up in Paris stock exchange on Friday, with JPMorgan upgraded its rating on the real estate company's stock from "neutral" to "overweight", while reducing its target price from 137 euros to 112 euros.
Shortly before 2pm, the office and residential property specialist's share price was the second biggest winner on the SBF 120, up 1.9%, while the index was down 1.2%.
In a sector report, the broker highlights the quality of the company's balance sheet, which it considers to be one of the best in Europe, as well as the control of its prices, which should enable it to accelerate earnings growth in 2023 thanks to the launch of its new projects.
The broker adds that the share's valuation, which is one of its top picks in the sector, is far from being stretched, as it is discounted by about 50% relative to net book value.
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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.
Shortly before 2pm, the office and residential property specialist's share price was the second biggest winner on the SBF 120, up 1.9%, while the index was down 1.2%.
In a sector report, the broker highlights the quality of the company's balance sheet, which it considers to be one of the best in Europe, as well as the control of its prices, which should enable it to accelerate earnings growth in 2023 thanks to the launch of its new projects.
The broker adds that the share's valuation, which is one of its top picks in the sector, is far from being stretched, as it is discounted by about 50% relative to net book value.
Copyright (c) 2022 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.