Icade share breaks through its 14.79 € support level following UBS target reduction
The office real estate investment trust continues to decline during trading and records a new all-time low since its stock market listing. It ranks among the worst-performing securities on an otherwise well-oriented Paris market, while French government debt remains under pressure.
Historic low recorded during trading, well below moving averages
The share touched 14.43 € during trading, surpassing by a few cents the previous record of 14.44 €, and is trading at 14.46 €, down 2.23 % while the SBF 120 gains 1.04 %. It has also broken through its support level at 14.79 €, which it is not reclaiming. The decline is not recent: the previous all-time low at 15.26 € dates back to October 1st, and the price has lost 17.09 % over one month.
It stands 10.6 % below its 20-day moving average and 26.6 % below its 200-day moving average, with an RSI at 21, in oversold territory. On the bond market, the yield on the 10-year OAT stands at 4.79 %, after peaking at 4.90 % on October 1st, amid tense budgetary discussions.
UBS cuts its target price to 13 € amid already low valuation
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UBS lowered its price target today to 13 € from 17.50 € previously, and maintains a sell rating. This target is approximately 10 % below the current price. According to the consensus of analysts, the share is trading at approximately 4.8 times the expected earnings for the current fiscal year. During the H1 2026 results released on July 22nd, the group confirmed its annual guidance with a net current cash-flow between 2.90 € and 3.10 € per share, while signaling a decline in asset value of 3.1 % on a constant scope basis.
Dans ce contexte, le Groupe est prudent et communiquera sa guidance pour l'exercice 2027 lors de la publication des résultats annuels
Risks mentioned
Environnement économique et financier dégradé, marqué par la persistance des conflits au Moyen-Orient
Climat politique incertain en France et remontée significative des taux d'intérêt
Ralentissement du marché immobilier avec attentisme des acquéreurs et des utilisateurs
Opportunities identified
Cession de l'immeuble Marignan générant une plus-value de 255 millions d'euros
Acquisition de Comet, acteur de l'événementiel corporate, pour développer la transformation digitale
Partenariat avec la Banque des Territoires pour investir 240 millions d'euros dans les résidences étudiantes
Outlook / guidance
Management commentary: Icade confirme son objectif de Cash-Flow Net Courant Groupe pour 2026, attendu entre 2,90 € et 3,10 € par action
The information presented in this article is provided for informational purposes only and does not constitute an investment recommendation, an incentive to buy or sell a financial asset, or investment advice. Readers are invited to conduct their own research before making any decision.
Investments in the stock market involve risks, including the risk of capital loss. Past performance of an asset or market is no guarantee of future results. Any investment decision should be made taking into account your personal financial situation, objectives and risk tolerance.
