(CercleFinance.com) – Invest Securities reaffirms its ‘buy’ recommendation on URW (Unibail-Rodamco-Westfield) while raising its price target from 79 to 84 euros, due to taking into account lower financial costs.
‘URW has published excellent 2024 operational data but which includes a few points to follow (much lower reversions in the second half of 2023, EBE margins notably lower than 2019)’, notes the analyst.
‘The resumption of distribution at a low level with a commitment to increase depending on the sales limits the visibility on a title which suffers from the absence of a reliable calendar of sales in the United States’, he continues, however judging URW ‘intrinsically undervalued’.
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