KBC Securities - Warehouses De Pauw SCA (WDP) WDP: Model update: a fair price for a valuable asset

Report

KBC Securities

Joachim Vansanten

WDP: Model update: a fair price for a valuable asset

We updated our model following the 3Q20 results. We slightly upgrade our TP from € 29.0 to € 30.0 ps and reiterate our earlier Hold rating.

17/11/2020 1 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

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WDP: Model update: a fair price for a valuable asset

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

Warehouses De Pauw SA: 1 director

WDP - In-line Q1, portfolio seeing signs of stabilisation

Benelux Morning Notes

Morning Notes : AKZA NA, DSFIR NA, ONTEXb BB, UCB BB, IMCD NA

Akzo Nobel Sale of 75% Akzo Nobel India stake leads to € 900m net cash proceeds

UCB FIRST LOOK: Fintepla scores Phase 3 win in third epileptic indication

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