Invest Securities has reaffirmed its 'buy' recommendation and 12.1 euro price target on Mercialys, following a business update which revealed that 'the transfer of the Casino hypermarkets adjacent to the property company's shopping centres is expected to take place for the most part by the end of May'.

Their replacement by Carrefour, Intermarché and Auchan banners is excellent news for the galleries' operating performance, in addition to the probable stabilization of values between now and the end of the year", believes the analyst.

He also notes that, against a backdrop of still buoyant rents (organic growth +4.6%), the retail property company has, unsurprisingly, reiterated its target for RNR per share (a minimum of +2% in 2024, i.e. 1.19 euros per share).

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