(CercleFinance.com) – AlphaValue on Tuesday lowered its target price on Mercialys, reduced from 11.8 to 11.2 euros, while renewing its buy recommendation on the stock.
In a note released in the afternoon, the design office explains that it fears that the rise in financial charges will end up penalizing the result of operations (FFO) of the commercial real estate group by 2026.
The Paris firm notes, however, that the company’s net financial debt ratio (LTV), which stood at 34% at the end of 2022, seems much more manageable than that posted by some of its competitors.
According to him, this element militates in favor of maintaining the current dividend, a factor that AlphaValue considers at the heart of its value investing theory, to which it is however not yet ready to grant a speculation premium given floating sound that flirts with 100%.
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