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During its Capital Markets Day, Cabka presented new 2030 targets including EUR 300m in revenues and a 15-17% EBITDA-marginThe new EU PPWR regulation will be an important driver for demand for reusable and recyclable packaging, supporting Cabka's sales growth We reiterate our Buy recommendation and EUR 4.60 target price
9M net operating income stood at EUR 411m, up 12.3% YoY.9M tenant sales remained strong at +9% YoY (LfL, excl. hypermarkets).Occupancy increased 40bps vs June end to 97.7%.LTV is down to a comfortable 30.7%, down 170bps vs June end, following the EUR 300m capital increase.NEPI has reaffirmed its guidance updated in August 2024 based on an expected DEPS for the year to be approximately 5.5% higher than the DEPS of 56.98 cents per share in 2024 and a payout ratio of 90%.
Whitestone's NAV almost tripled in size over H1 from EUR 34.4m to EUR 99.7m at June 30.The majority of the immense growth is thanks to two capital raises with in total EUR 59.7m raised.The remainder of the growth comes from the solid performance in the portfolio (+EUR 6m).The company still has more than EUR 20m in cash available to deploy, even after its most recent investment in Lambda X Ophtalmics.We estimate today's NAV at EUR 14.5 p/s implying a discount of 16.5%. Our TP moves to E...
*OPM reported the final results of its Ph1 study with RIPK2 inhibitor ‘OPM-101'. Ph1b/2a expected to launch early 2025.*While results look highly encouraging, with strong safety data and no cardiac toxicity, we await clarity on the Ph1b/2a trial protocol and pursued indication.*Our rNPV-based valuation takes into account estimates related to OPM-101 and OPM-201 and does not factor in the potential dilutive impact of any future capital raises. Discovery/preclinical-stage programs are conside...
