Icade is one of the SBF 120's biggest decliners on Monday's Paris Bourse, with the real estate developer's share price penalized by a note from Deutsche Bank, which sharply revised its target on the stock.

While reiterating its 'hold' recommendation on the stock, the research firm sharply reduced its price target from 32 to 24 euros.

At around 12:20 pm, Icade shares were losing around 3.5%, the third worst performer on the SBF.

Due to a market environment deemed uncertain, the stock has lost over 34% since the beginning of the year, despite the presentation last month of a plan deemed promising by analysts.

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