Klépierre: RBC renews 'outperform' rating

(CercleFinance.com) - RBC on Friday renewed its "outperform" opinion on Klépierre's stock, with a target price of 31 euros.


In its comments, the broker believes that the share's underperformance over the past five weeks is not justified given the situation in which the specialist in non-residential rental property finds itself.

"The impact of a new wave of COVID cases appears to be having a relatively muted impact on continental shopping centres to date," the broker notes.

"t the same time, we expect Klepierre's earnings to benefit from higher indexation on the back of higher inflation," it adds.

In view of the increase in consumer prices (CPI) in Europe, RBC says it expects indexation to rise to 3.8% next year.



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