Berenberg Lifts Klépierre Price Target, Estimates After FY26 Guidance Upgrade; Buy Rating Kept

07:02 AM EDT, 08/17/2026 (MT Newswires) -- Berenberg raised its price target and earnings assumptions for Klépierre (LI.PA) to reflect the French shopping mall operator's upgraded full-year 2026 guidance. "Having incorporated Klépierre's new FY 2026 outlook, which the company released alongside its H1 results - it is now expecting adjusted EPS 'at the high-end of a EUR2.77-2.80 range,' from 'at least EUR2.75' previously - we derive EUR42 as our new price target [from the previous price target of EUR41] and maintain our Buy rating. While the increase in the adjusted [EPS/funds from operations] per share is only marginal, we expect organic growth to develop positively for Klépierre and welcome its defensive financial profile," according to a Monday note. For the six months ended June 30, Klépierre reported that like-for-like retailer sales climbed 3.9% year over year, with growth noted by the research firm across all sectors. "As with its peers, Klépierre also benefits from the sector trends that are seeing well-located shopping [centers] continue to attract visitors and retailers, which is demonstrated by its high occupancy levels of 97.1% as of June. As the contribution from indexation to the company's full-year [like-for-like] rent growth (H1: 3.3% yoy) will decline further in H2, we think that Klépierre's reported 5% average rental uplift in H1 is encouraging," analysts wrote. Against this backdrop, Berenberg boosted its 2026 to 2028 earnings estimates for Klépierre, including rents and EBIT.