Invest Securities is maintaining its 'buy' recommendation and price target of 118 euros on Gecina, as it awaits today's meetings following the real estate group's announcement of its first-half 2023 results.

"The property company published good half-year figures (RNR/share up +7.5% to 2.93 euros), driven by strong indexation (offices +4.8%) and continued strong reversion (+15%)", notes the analyst.

It also highlights an NTA NAV (161.4 euros) 'down 6% in the wake of foreseeable but still measured asset declines (-4.5% for offices, including a +30bp rise in capitalization rates)'.

Copyright (c) 2023 CercleFinance.com. All rights reserved.
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.