(CercleFinance.com) – Degroof Petercam maintained its ‘hold’ recommendation on Mercialys on Thursday, maintaining a price target of 11 euros, following the presentation of the property company’s latest activity figures.
In a reaction note, the Belgian investment bank mentions a “good quality” publication for the first quarter, showing that the activity of the commercial real estate group is benefiting from signs of stabilization.
The financial institution says it expects a continued recovery in rents invoiced throughout the year, knowing that (1) Mercialys did not provide any financial support to its tenants during the crisis and (2) the French State pledged generous financial assistance to the sector.
Degroof Petercam indicates that it plans to review its estimates on the group following the general meeting of April 28, which is supposed to record Casino’s gradual withdrawal from capital, which the private bank considers to be a “significant change” for the group.
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