Oddo BHF has upgraded its opinion on Mercialys from 'neutral' to 'outperform', with a target price raised from 8.2 to 10 euros, mainly as a result of the reduction in its risk premium as part of its updated model for the property company.

Following a roadshow with management, the research firm believes that 'Casino's ongoing financial restructuring offers greater visibility on Mercialys's ability to collect rents and reduce its exposure to its largest tenant'.

Oddo BHF also notes that, for the CEO, the priority is to secure FFO resilience and a sustainable dividend. Mercialys will continue to be selective in its strategic choices over the short term, and will give itself time to execute", adds the analyst.

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