We believe in a strong adjustment in Office values in FY 20-22. It could end in putting the balance sheet at risk. Having been negative during the last rush phase upto February 2020, we are now back to a negative stance after the share’s recent bounce. Just remember that 2009-10 resulted in a c. 25% adjustment in Icade’s GAV (Offices, lfl). Why should it be only 5-10% this time?
02 May 2020
Look beyond the phase of disbelief
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Look beyond the phase of disbelief
Icade SA (ICAD:PAR) | 0 0 1.5% | Mkt Cap: 6,092m
- Published:
02 May 2020 -
Author:
Christian Auzanneau -
Pages:
6
We believe in a strong adjustment in Office values in FY 20-22. It could end in putting the balance sheet at risk. Having been negative during the last rush phase upto February 2020, we are now back to a negative stance after the share’s recent bounce. Just remember that 2009-10 resulted in a c. 25% adjustment in Icade’s GAV (Offices, lfl). Why should it be only 5-10% this time?