URW: Oddo welcomes a sale in the United States


Oddo BHF reaffirms its ‘outperformance’ opinion and its target price of 85 euros on Unibail-Rodamco-Westfield (URW), after the sale by the real estate group of the site of the former Mall Promenade, Los Angeles, with a premium of 60 % compared to the last appraisals.

He believes that this sale gives URW visibility to carry out its exit plan from the United States and “illustrates its ability to sell the 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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