(News Bulletin 247) – While maintaining its ‘neutral’ recommendation, Invest Securities is adjusting its price target from 72 to 72.5 euros, after the announcement by the property company of an 11% increase in its rents over one year , which is partly due to ‘still robust fundamentals’.
According to the design office, Argan’s end-of-year objectives still seem credible (rents +10% and net recurring income +4%) in particular with regard to an investment volume of 135 million euros. ‘.
“The surprise is due to increased development ambitions for the 2024 financial year (175 million euros) which should allow it to post honorable growth levels over the next two financial years”, he continues.
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