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WDP: Scaling up in France
研报英文原文证据摘录
WDP: Scaling up in France
considering current cost and financing conditions) could provide a boost to market rents,
enabling the capture of reversion on lettings to new and/or existing tenants and driving top-line rental income. Further progress
with the development pipeline beyond the current pace could extend income generation beyond guidance.
Downside - Returns across WDP's development pipeline could miss targets while a delayed return to property value growth would
be negative for NAV.
RATINGS DEFINITIONS, BENCHMARKS AND DISTRIBUTION
EQUITY RATINGS DEFINITIONS
Bernstein brand
The Bernstein brand rates stocks based on forecasts of relative performance for the next 12 months versus the S&P 500 for
stocks listed on the U.S. and Canadian exchanges, versus the Bloomberg Europe Developed Markets Large and Mid Cap Price
Return Index EUR (EDME) for stocks listed on the European exchanges and emerging markets exchanges outside of the Asia
Pacific region, versus the Bloomberg Japan Large and Mid Cap Price Return Index USD (JPL) for stocks listed on the Japanese
exchanges, and versus the Bloomberg Asia ex-Japan Large and Mid Cap Price Return Index (ASIAX) for stocks listed on the Asian
(ex-Japan) exchanges -unless otherwise specified.
The Bernstein brand has three categories of ratings:
• Outperform: Stock will outpace the market index by more than 15 pp
• Market-Perform: Stock will perform in line with the market index to within +/-15 pp
• Underperform: Stock will trail the performance of the market index by more than 15 pp
Coverage Suspended: Coverage of a company under the Bernstein research brand has been suspended. Ratings and price targets
are suspended temporarily, are no longer current, and should therefore not be relied upon.
PROPERTY/REAL ESTATE 4
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