Berenberg: Unibail-Rodamco-Westfield Earnings Acceleration 'Fully on Track'; Price Target Up

08:09 AM EDT, 08/14/2026 (MT Newswires) -- Berenberg remains upbeat on Unibail-Rodamco-Westfield (URW.PA), noting that the Paris-listed real estate group's earnings acceleration is "fully on track" following its half-year report. "While the stock market reaction to Unibail-Rodamco-Westfield's (URW's) recent H1 results was somewhat lukewarm, we remain positive on the stock and derive a marginally higher price target of EUR122 after having updated our estimates. We forecast for the next two years' adjusted EPS/FFO per share a slight acceleration, supported by sustainably low vacancy rates in the shopping centres and a somewhat slower rise in interest expenses," analysts wrote in a note published Friday. "With shares having moved somewhat sideways after having risen by 17% ytd, we see further upside for URW's stock given current valuation levels, trading for FY 2027 at an earnings yield of 9.2% and dividend yield of 5.7%." The stock's buy rating remains unchanged, while the price target stood at 120 euros prior to the uplift. Meanwhile, EBIT forecasts for 2026 through 2028 were trimmed.