Fonciere INEA: Invest Securities still on hold, cuts TP

(CercleFinance.com) - Invest Securities maintains its 'neutral' rating on Fonciere INEA shares, with a target price lowered from E43.
6 to E34.9, due to market conditions (refinancing costs and capitalisation rate).

The analyst reports that operating data published since this year has confirmed the resilience of the portfolio.

The positioning on relatively recent regional offices (80% of the portfolio) and business premises adapted to demand should guarantee a certain resilience in NAV/share and a moderate fall in RNR/share, which are two estimable performances given the rise in interest rates, the broker says.


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.
The information and analyses published by Cercle Finance are intended solely as a decision-making aid for investors. Cercle Finance cannot be held responsible, directly or indirectly, for the use of information and analyses by readers. Uninformed investors are advised to consult a professional advisor before investing. This information does not constitute an invitation to sell or a solicitation to buy.