Sabadell - Inmobiliaria Colonial (COL SM) (COL SM) COLONIAL: REBAJAMOS P.O. POR IMPACTO DE YIELDS (ANÁLISIS BANCO SABADELL)

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COLONIAL: REBAJAMOS P.O. POR IMPACTO DE YIELDS (ANÁLISIS BANCO SABADELL)

Revisión del valor de la cartera tras subida de tipos y falta de visibilidad. COMPRAR.
Rebajamos nuestro P.O. un -27% hasta 7,33 euros/acc. (potencial +23%) tras recortar un -16% nuestra previsión del valor de la cartera hasta 2024 por peores perspectivas de yields asociadas al aumento de los tipos de interés (ahora +107 pbs en 2022-2024 vs +33 pbs antes) en parte compensado por evolución de rentas (+6%) y otros ajustes menores. Nuestra recomendación sigue siendo COMPRAR porque creemos 25 el mercado está siendo excesivamente pesimista en el valor (descuento del -51% vs NAV) y tras su mala evolución en el año (-25% en absoluto, +19% vs sector pero -42% vs Merlin).

30/11/2022 1 ES

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Inmobiliaria Colonial (COL SM)

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COLONIAL: REBAJAMOS P.O. POR IMPACTO DE YIELDS (ANÁLISIS BANCO SABADELL)

COLONIAL: 9M’25 RESULTS (ANÁLISIS BANCO SABADELL)

COLONIAL: RDOS. 9MESES’25 (ANÁLISIS BANCO SABADELL)

IBERIAN DAILY 14 NOVEMBER + 3Q’25 RESULTS. PREVIEWS (ANÁLISIS BANCO SABADELL)

IBERIAN DAILY 19 DECEMBER (ANÁLISIS BANCO SABADELL)

INFORME DIARIO 19 DICIEMBRE (ANÁLISIS BANCO SABADELL)

ESTRATEGIA DE RENTA VARIABLE: REUNIÓN BCE - UN BCE MÁS OPTIMISTA SOBRE LA ECONOMÍA (ANÁLISIS BANCO SABADELL)

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