Une distribution en voie d’accélération - ACHAT - OC 28€ (vs 26,5€)
Argan a amélioré son patrimoine en 2016 sans le faire croître et réussit à obtenir une occupation de 99%, dans la fourchette de 98 à 100% connue pendant une décennie de cotation boursière. Par la qualité de sa gestion, la foncière a donc réussi à empocher durablement une prime de risque attachée à un aléa qui ne s’est pas matérialisé. Le résultat et l’ANR excèdent nos prévisions et le plan 2016-2018 est révisé en hausse, surtout concernant le dividende. Nous rehaussons donc notre objectif de cours, à 28€ vs 26,5€, sans nous dissimuler qu’une société avec une LTV élevée (cible de 59% fin 2018) ne sera pas dans l’air du temps à court terme. Opinion Achat réitérée.Argan SA designs, builds, develops, owns, leases, and manages logistical bases and warehouses in France. Co. is also involved in land development and management, delivering turnkey projects to its customers. Co divides its activities among two categories of clients: Shipper and Logisticians. It serves shippers, manufacturers or distributors. In addition, Co. serves logisticians, operating the logistics of shippers, including Alloga, Arvato, Daher, Dartess , FM Logistic, Geodis, Kuehne & Nagel, Movianto, Neovia logistics, and XPO Logistic. Co.'s portfolio amounts to more than 1,600,000 mA2, made up of 50 logistics platforms and 9 couriers, making a total of 59 buildings.
Since 2006, Invest Securities has become one of the leading players in investment services for funds and managers, to whom we offer a global and personalised service. Our track record differentiates us and proves our leadership in numerous promising sectors like property and growth companies.
Consisting of 13 different profiles (pharmacist, engineer, financier, etc), the DNA of our financial analysis office is value added and sector expertise. Through daily monitoring and detailed analyses of companies and sectors, we seek to provide a differentiating vision of our 120 stocks followed. Our ideas are circulated every day to nearly 1,000 professionals.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.