Oddo BHF maintains its 'outperform' rating on Klépierre shares, with a target price raised slightly from 26 to 26.5 euros.

The analyst reports that last night, Klépierre published "very good results in line with its peers", with operating indicators stabilizing at high levels, but also a CFNC/share at 1.21 E (+7.4% yoy) vs. 1.20 E and particularly resilient asset values (-1.4% over 6M).

Retail sales rose by 8% in the 1st half, and organic growth in net rental income on a like-for-like basis reached 7.3%.

As a result, Klépierre is raising its 2023 guidance and now expects a 2023 CFNC/share at 'at least 2.40 E' vs. 2.35 E previously, up 7% on the adjusted 2022 CFNC/share of 2.24 E due to a better-than-expected operating performance.

Oddo BHF highlights 'a very solid publication from Klépierre, which here confirms its status as a benchmark player among retail property companies'.

Copyright (c) 2023 CercleFinance.com. All rights reserved.
The information and analyses published by Cercle Finance are intended solely as a decision-making aid for investors. Cercle Finance cannot be held responsible, directly or indirectly, for the use of information and analyses by readers. Uninformed investors are advised to consult a professional advisor before investing. This information does not constitute an invitation to sell or a solicitation to buy.