(News Bulletin 247) – Invest Securities reaffirms its ‘buy’ recommendation on Icade with a price target slightly lowered from 55.1 to 52.8 euros, on an adjustment of its sales and margin forecasts for development activity .
‘The first quarter bears the mark of a collapse in housing reservations while the assets of the tertiary property company are again suffering from their peripheral positioning’, points out the analyst in charge of the file.
‘Unsurprisingly, the distribution strategy has not yet been clearly defined. However, the company does not rule out a payment of an exceptional dividend from 2023 after the finalization of the first stage scheduled for the end of July at the latest.
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