Barclays reiterates its 'overweight' recommendation on Icade, while reducing its target price from €53 to €36, as the real estate group's shares have fallen sharply since the announcement of its strategic plan in February.

In the broker's opinion, this fall in the share price could be exaggerated, particularly as the share includes the second-highest discount on its coverage, equivalent to a capital destruction of 3.3 billion euros.

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