Argan: Invest Securities still on hold, cuts target price
(CercleFinance.com) - While maintaining its "neutral" rating on Argan shares, Invest Securities has lowered its target price for them from E69.
9 to E65.7, after adopting more conservative forecasts following the warehouse logistics firm's 9m trading update.
Pointing to fundamentals that remain robust, the broker notes that the property company has reiterated its 2023 targets, which still seem credible, while development ambitions for 2024 remain unchanged.
The analyst says that the publication comes as no surprise, although recent interest-rate pressures call for caution, particularly with regard to appraisals and refinancing costs.
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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.
9 to E65.7, after adopting more conservative forecasts following the warehouse logistics firm's 9m trading update.
Pointing to fundamentals that remain robust, the broker notes that the property company has reiterated its 2023 targets, which still seem credible, while development ambitions for 2024 remain unchanged.
The analyst says that the publication comes as no surprise, although recent interest-rate pressures call for caution, particularly with regard to appraisals and refinancing costs.
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.