Argan: Oddo BHF remains positive after trading update

(CercleFinance.com) - Oddo BHF has reaffirmed its 'outperform' opinion and 93 euro price target on Argan, following the announcement of rental income growth of 8% to E198.
3m over 2024, in line with the property company's guidance and consensus.

This good operating performance on the topline also reflects the development momentum, notes the broker, who also points to good asset valuation performance to the end of 2024, with a 10 bp compression in the capitalization rate over six months.

Argan's preliminary figures therefore seem reassuring, particularly with regard to the value of its assets and the execution of its deleveraging strategy, with the share price particularly discounted in relation to the company's good fundamentals.


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