Goldman gives Aedas Homes a price target of 33.6 euros, 13 euros above its current price

  • Analysts reiterate their call option on the security
  • Give you a long-term competitive advantage over your peers

Goldman Sachs has reiterated its purchase option on Aedas Homes, after the celebration of the first Investor Day of the residential developer, and has granted it a target price of 33.60 euros. The share is trading at 20.35 euros.

The analysis house has kept the developer on its special shopping list ‘Pan Europe Conviction Buy List’. In addition, it has enhanced the Aedas Homes bench, to which it has given “a long-term competitive advantage over its peers.”

What’s more, Goldman Sachs has remarked that since its IPO, Aedas Homes has closed a land acquisition every 14 days, with 26% focused on the Community of Madrid.

“This history of buying land offers greater confidence in the viability of the business and in the ability of the company to reach its margins,” said Goldman Sachs.

Analysts predict that if Aedas Homes performs a “good” management of sales prices and cost control it will have “a track record with robust margins, as well as strong NAV growth.”