Argan: down at half-mast after its annual results
NTA NAV fell sharply (-9.8% over six months) to 93 euros, a trend that is set to continue in 2023", according to Invest Securities, which maintains its "neutral" recommendation, with a price target lowered from 77 to 72 euros.
The property company has published encouraging guidance for RNR and dividend for 2023, but its new strategic plan, cautious and pertinent, will include disposals and a more selective examination of potential projects, which will weigh significantly on growth", it warns.
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