URW: Invest Securities maintains buy rating, trims TP

(CercleFinance.com) - Invest Securities reinstates its "buy" rating on URW (Unibail-Rodamco-Westfield) shares, while trimming its target price for them from 85 euros to 83 euros, incorporating higher medium-term financial costs in its model, with a limited impact of rising interest rates.


In the wake of sound results confirming the good performance in continental Europe and some weaknesses across the Atlantic, analysts have updated their forecasts, which are reflecting the benefits of the extension of the duration of the group's debt, they say.

The potential for revaluation leads the broker to maintain its buy rating on the stock, even though it should continue to suffer from uncertainties over the disposal of North American assets, which increasing interest rates are making even more difficult to complete, it adds.

The URW share is up nearly 1% in early trading today, slightly outperforming the market in Paris.


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