(CercleFinance.com) – Unibail-Rodamco-Westfield gained nearly 1.5% in Paris, driven by an analysis by Oddo BHF which reaffirmed its ‘outperformance’ rating and a price target of 85 euros on the share, after the sale by the real estate group of the site of the former Mall Promenade, in Los Angeles, with a premium of 60% compared to the latest appraisals.
The broker believes that this sale gives visibility to URW to carry out its exit plan from the United States and ‘illustrates its ability to sell US regional shopping centers possibly with a premium to support the company’s debt reduction effort’.
According to the analyst in charge of the file, ‘it is the reduction of financial exposure / partial or total sale of the portfolio of flagship US assets which constitutes the main catalyst for the URW share’.
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