Kardan: outperform ondanks 660% stijging
Clal Finance Batucha: Burden of proof is on Kardan
Kardan’s real estate arm GTC Poland, its financial subsidiaries TBIH and TBIF, and its water consultancy arm Tahal are potential sources of added value.
Erez Wollberg 24 May 07 14:32
Clal Finance Batucha Ltd. today published a update on Kardan NV (TASE: KRNV;AEX:KARD) and its subsidiaries, in view of the company’s impressive 660% return on the Tel Aviv Stock Exchange (TASE) since the company restructured three and half years ago. For the sake of comparison, the Tel Aviv 100 index has risen 168% over the same period.
Although Kardan has been one of the best performing TASE stocks in recent years, Clal Finance Batucha warns, “Despite the praise we’re heaping on Kardan, we believe that at the company’s present price, the burden of proof is on the its management.” The investment house gives Kardan an “Outperform” rating.
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