(News Bulletin 247) – Oddo BHF maintains its ‘neutral’ opinion on Mercialys, while lowering its target price from 10.2 to 8.2 euros after taking into account the payment of the dividend and upward adjustment of its premium risk on the title of the property.
‘Mercialys remains significantly exposed to Casino while the latter has just launched a conciliation procedure with its financial creditors’, notes the analyst, believing that this ‘forces Mercialys to be more selective in its strategic choices’.
Oddo BHF remains neutral on the file, ‘in the face of the low visibility to date on the outcome of future actions in progress on Casino even if the share is trading today at a historically low level at 6.5 times cash flow 2023 for a dividend yield of 13.1%’.
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