Klépierre Shares Hit an 8-Year High, Bucking the CAC 40 Trend
Klépierre enjoys a benchmark session in Paris. The commercial real estate stock reaches a peak not seen since 2018, moving against the grain of a declining CAC 40. Berenberg has just raised its target, fueling the momentum.
A Peak at €36.42, the Highest Since 2018 in a Declining Paris Market
Klépierre stock gains 2.81% to €36.60, after hitting €36.42 during the session. The stock thus surpasses its previous record of €36.28 reached in 2018, marking an eight-year high.
The performance contrasts with the CAC 40, which fell by 0.18% at close, placing the real estate company among the top gainers in the SBF 120. Over the week, the stock has advanced by 5.4%, and nearly 14% over three months.
The rebound occurs as the VIX surged by nearly 15% during the session, indicating a resurgence of nervousness in European indices. The rotation towards real estate benefits Klépierre, following the trend of other sector stocks like Mercialys and Carmila, which are also performing well.
Berenberg Raises Its Target to €40 and Reaffirms Buy Rating on the Real Estate Stock
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Berenberg has raised its price target on Klépierre this Wednesday, from €37.50 to €40, while reiterating its buy recommendation. At the current price of €36.60, the new target represents a potential upside of about 9.3%.
The stock is now trading above its three moving averages, with a 5.6% gap from the MM20 (€34.65) and 9.3% from the MM200 (€33.49). The RSI at 66 indicates a strong buying momentum, without tipping into a marked overbought zone.
The stock has breached its technical resistance at €35.62, which now opens up space above the previous 2018 record. The short-term trajectory will depend on the stock's ability to maintain above this now former threshold.
Révision à la hausse des objectifs pour l'ensemble de l'année 2026
Risks mentioned
Dépendance à la fréquentation des centres commerciaux, en hausse limitée de 1,2 % au premier semestre
Taux d'effort des locataires stable à 12,5 %, limitant les marges de hausse des loyers
Coût des nouveaux financements à 3,42 %, supérieur au coût moyen actuel de la dette de 1,9 %
Opportunities identified
Relèvement des objectifs 2026 : EBE minimum de 1 150 M€ et cash-flow net courant par action de 2,77 à 2,80 €
Projets d'extension à Le Gru (Turin) et Romagna (Rimini) avec rendements prévus de 10 % et plus de 8 %
Réversion locative positive de 5,0 % sur renouvellements et recommercialisations
Outlook / guidance
Expected EBITDA: 1 150 millions d'euros
Management commentary: atteinte d'un EBE 1 minimum de 1 150 millions d'euros et d'un cash-flow net courant par action dans le haut d'une fourchette de 2,77 à 2,80 euros
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.
