MRM lost over 1% in Paris, as Invest Securities downgraded its recommendation on the stock from 'buy' to 'neutral', with a price target reduced from 29.2 to 25.1 euros due to the inclusion of a 3% three-month Euribor.

MRM published good operating figures for the first quarter," notes the analyst, who points to a 9% increase in sales by the brands and a rise in rents on a like-for-like basis (+3.6%), confirming the resilience of the portfolio.

"The 2023 financial year will enable the 2023 RNR (1.93 euros per share, +10%) to benefit from the accretive impact of the 2022 acquisitions. In the medium term, the target of 16 million euros in rental income by 2025 looks very credible," he continues.

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