EuroCommercial : Adequately priced in the near term
>Downgrade on the back of the recent share price rally - We downgrade our recommendation on Eurocommercial Properties (ECP) to Neutral from Outperform on the back of the recent share price rally which has largely caught up with our target price. ECP reported encouraging rent collection figures (73% overall) for Q1 which we expect to further improve on the back of the re-openings and government support scheme funds. However, as a conservative estimate, we maintain our ...Eurocommercial Properties NV is a closed end property investment company based in the Netherlands. The Company invests, owns and manages retail real estate properties, primarily shopping centers, but also warehouses and office space. Its activities are focused on France, Sweden and Northern Italy, with property portfolio comprising more than 30 shopping centers. Eurocommercial Properties NV operates through a number of subsidiaries, such as Aktiebolaget Laholm Mellby 2:129, Aktiebolaget Norrkoping Silvret 1, Aktiebolaget Skovde K-mannen 2, Bergvik Kopet 3 Kommanditbolag, Betulla Srl, ECP Hogsbo AB, ECP Karlskrona AB, ECP Moraberg Holding AB, Eurocommercial Management Italia Srl, Eurocommercial Properties Ltd, Holgura BV and SAR Degeln AB, among others.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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