Oddo BHF reaffirms its 'outperform' rating on Unibail-Rodamco-Westfield (URW) and raises its target price from 55 to 72 euros, after updating its model and reducing its risk premium for the retail property group.

The research department believes that the property company's refinancing package, "combined with the operational performance of the centers, gives URW greater flexibility in terms of the timeframe to radically reduce its financial exposure in the United States".

The potential resumption of a dividend in 2024 would, in our view, still be an additional positive catalyst in an optimistic scenario", adds the analyst in charge of the file.

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