On the heels of the quarterly trading update, Oddo BHF maintains its 'outperform' rating and 93 euro price target on Argan, 'given the continuing positive fundamentals in the French logistics sector and the property company's recognized expertise'.

The research firm highlights continued strong rental momentum, with rental income up 11% year-on-year in the first quarter, as well as a development pipeline revised upwards to 300 million euros, from 235 million by the end of 2022.

According to Oddo, this quarterly publication illustrates Argan's current good operating momentum, in line with years of strong growth in 2023 and 2024, and its mastery of its trajectory in this period of rising interest rates.

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.