URW: UBS slashes target price
(CercleFinance.com) - UBS has renewed its "neutral" rating on Unibail-Rodamco-Westfield (URW) sharres, while reducing its target price for them from 75 euros to 50 euros due to rising interest rates and the growing risk of a recession.
In a report, the broker provides an update on the case, in particular recalling that the "timing" of the Westfield acquisition, in 2018, was unfortunate as it came just a few years before the worst crisis ever recorded in the sector.
Since then, URW management has been working hard to get out of this difficult situation, mainly by reducing debt, analysts say.
The broker points out that these difficulties have resulted in URW's share price breaking out of the 50-to-75 euro trading range in which it has traded for a long time.
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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.
In a report, the broker provides an update on the case, in particular recalling that the "timing" of the Westfield acquisition, in 2018, was unfortunate as it came just a few years before the worst crisis ever recorded in the sector.
Since then, URW management has been working hard to get out of this difficult situation, mainly by reducing debt, analysts say.
The broker points out that these difficulties have resulted in URW's share price breaking out of the 50-to-75 euro trading range in which it has traded for a long time.
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.