XP Cutting Target Price of Iguatemi (IGTI11) and Allos (Alos3); Are actions still worth it?

XP Cutting Target Price of Iguatemi (IGTI11) and Allos (Alos3); Are actions still worth it?

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THE XP Investments updated its projections to the malls and cut the target price to actions from the Iguatemi (IGTI11), which went from R $ 32.50 to R $ 29.50, and Allos (Alos3) that fell from $ 34 to $ 27. Multiplan (MULT3), in turn, had its maintained R $ 35 per share.

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Despite the cuts, analysts continue with a constructive view for the sector in 2025 and maintains the purchase recommendation for all roles. Good operational performance of companies, heated consumption and overhaul Gross domestic product (GDP) continue to support a Positive scenario for mall sales and for the growth of Rental recipes.

The estimate is an average advance of 7% in revenue with rents next year, supported by contractual readjustments and firm demand from retailers. Even with the discharge of some inflation rates, costs should remain under control, which favors positive negotiations for malls.

The main obstacle in the short term, however, is the high level of interest rates in Brazil. As shopping malls have a more spread return over time, their roles are quite sensitive to the movement of long -term interest rates.

“With few short -term catalysts, we hope that shopping centers will perform a more consistent higher performance when interest rates start to fall more sharply,” analysts highlight the report.

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Analysis of the actions of the Iguatemi, Multiplan and Allos

Iguatemi, Multiplan and Allos together, together, about 56% of the first -class malls in Brazil and, according to the XPlisted companies show financial resilience thanks to the quality of their portfolios, especially IGTI11 and MULT3.

This concentration in premium assets explains the higher operational performance than the average of the sector (ICVS-Brasce) and reduces the risk in adverse macroeconomic scenarios.

The highlight of the report goes to the Iguatemi (IGTI11), pointed out as the favorite of analysts. The company stands out for:

  • Constant growth in sales;
  • Increase in the amount charged by rent;
  • Reduction of debts with the sale of assets;
  • And even with these positive points, their actions are still cheaper than those of the multiplan competitor.

THE Multiplan (MULT3) also follows as one of the favorites, and the company has:

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  • A strong and well distributed portfolio;
  • Consistent high rents;
  • Efficient management with low indebtedness.

Already the Allos (Alos3) appears as an interesting third option. Despite not having so many factors that boost growth in the short term and its portfolio is a little more varied, the company still draws attention because it has the cheaper action price and for paying good dividendswhich attracts investors who seek long -term opportunities for appreciation.

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Source: Moneytimes

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