HAL Trust : Taking profit after a year of strong outperformance
The share price of HAL Trust in the past 12 months improved by more than 50%, helped by strong performances of its main investments (Boskalis, Vopak, SBM Offshore, Technip Energies), but also by a rapid reduction in its holding discount to now just 11-12%, down from 30-35%. Being cautious on the potential impact of recent events in the Middle East, we today lower our recommendation to Neutral, and advise to take profit.HAL Trust is the trust holding company for HAL Holding N.V. Co.'s only asset is the outstanding shares of HAL Holding N.V. Co.'s strategy is to invest in companies where it can play an active role as shareholder and board member. Co. invests mainly in industrial and real estate companies.
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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