(News Bulletin 247) – Berenberg announced on Thursday that it had initiated coverage of the Argan stock with a ‘hold’ recommendation and a target price of 82 euros.
In a study devoted to the European sector of logistics real estate, the analyst salutes the ‘local’ dimension of the French group, which allows it, according to him, to display a full occupancy rate of its portfolio.
The intermediary says in particular that he appreciates the ‘defensive’ nature of his assets, with 43% of rental income coming from food distribution.
While he believes the group’s financial profile is moving ‘in the right direction’, Berenberg believes the process could take time, leading him to issue a ‘hold’ advice for the time being.
Copyright (c) 2023 News Bulletin 247. All rights reserved.
I have over 8 years of experience working in the news industry. I have worked as a reporter, editor, and now managing editor at 247 News Agency. I am responsible for the day-to-day operations of the news website and overseeing all of the content that is published. I also write a column for the website, covering mostly market news.
