KBC Securities - Warehouses De Pauw SCA (WDP) WDP - Company Note 06.02.2020 - Dont stop me now

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KBC Securities

Joachim Vansanten ...

Wido Jongman

WDP - Company Note 06.02.2020 - Don't stop me now

Following an update of our model, taking into account an accelerated growth compared to mgtâ€™s guidance and a decrease in our model assumptions for the Coâ€™s cost of capital, we increase our WDP TP from â‚¬24 to â‚¬30 ps. We believe WDP is well managed and will be able to continue its accelerated growth path. Given the 18% upside, we upgrade our rating from Hold to Buy and put WDP on our Dynamic Top Pick List.

06/02/2020 12 EN

Underlying

Warehouses De Pauw SCA

Warehouses De Pauw and its subsidiaries are engaged in investment in the Belgian semi-industrial property market. Co. is a closed-end property investment company which specializes in: development of storage and distribution premises; customized projects in line with the user's request; acquiring premises for customers who wish to engage in sale and leaseback transactions.

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BE0003763779 Belgium

Provider

KBC Securities

We are a financial services provider for several types of professional clients, each with distinct needs.

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Analysts

Joachim Vansanten

Wido Jongman

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