UBS reaffirms its 'buy' recommendation on Icade, with a price target maintained at 37 euros, representing a 52% upside potential for the stock, the day after the real estate group's business update for its first quarter 2024.

From this publication, the broker highlights that "indexation continues to drive positive like-for-like rental variation", while "markets are still facing challenges".

In the summary of its note, it also points to a performance gap that "has never been so wide between 'well-positioned' offices (+5.1% on a comparable basis) and offices in need of repositioning (-16.9% on a comparable basis).

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