Oddo BHF reiterates its 'outperform' opinion on Argan and raises its target price from 80 to 92 euros, highlighting the logistics property company's improved visibility in implementing its strategy.

"The preliminary 2023 figures published by Argan are encouraging, particularly in terms of asset valuation, and reflect the company's continued good sales momentum in the logistics segment in France", it stresses.

With regard to net income per share (to be published after close of trading on January 18), the research department is still forecasting 5.40 euros in 2023 (+3.4%), and anticipates growth of +4.9% to 5.66 euros for the year ahead.

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