Hansen, Mueller Industries director, sells $105,710 in stock
Investing.com - Kepler Cheuvreux raised its price target on Swedish property company Fabege AB (ST:FABG) to SEK100.00 from SEK90.00 on Wednesday, while maintaining a Buy rating on the stock.
The research firm’s decision follows Fabege’s Q3 report, which came in slightly weaker than expected, though the company continues to work successfully with long-term financial hedges, prompting Kepler Cheuvreux to reduce its average interest rate forecast.
Kepler Cheuvreux expects Fabege’s investments to be significantly lower next year, as the firm does not anticipate the company starting any larger office projects, while the sale of land to Besqab will help reduce interest-bearing debt.
The research firm also forecasts improved contribution from co-op sales, resulting in a 9% increase to its 2026 funds from operations per share (FFops) estimate.
Despite a recent sharp increase in Fabege’s share price, Kepler Cheuvreux notes the stock still trades at a 15-20% discount to its historical 12-month forward price-to-funds from operations ratio.
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