(CercleFinance.com) – After half-year results deemed ‘mixed’, Oddo BHF reiterates its ‘outperformance’ opinion on Kaufman & Broad with an adjusted price target of 36 to 33 euros, considering that the title of the real estate group benefits of a speculative nature.
‘In the end, this publication does not, in our view, provide specific catalysts allowing us to consider a short-term revaluation, the stock market path probably remaining linked to the evolution of new housing reservations’, reacts the analyst.
Oddo nevertheless considers that the good performance of profitability is proof of the group’s rigor. Within the sector, it has a ‘neutral’ view of its peer Nexity, ‘which could also come under pressure from bookings in the second quarter’.
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