The stock of real estate developer Kaufman & Broad has fallen since the start of 2026, what should we do about it?
Business life, market functioning, stock market law... The editorial staff of Le Figaro Patrimoine et Bourse will answer your questions and provide you with their expertise.
Down by more than a third since the start of the year, the action of real estate developer Kaufman & Broad is suffering from the surge in interest rates: it is dissuasive for first-time private buyers and increases the weight of block sales, generally lower margins. Reservations are feeling this: over the first nine months of its 2026 financial year (i.e. at the end of August), they were stable in volume (+0.3%). But in value terms, they fell by almost 10%, especially in the 3rd quarter (-15.9%).
The recovery will take time. A financially solid group However, management has nevertheless maintained the annual guidance, and net cash flow remains positive. This solid group is very undervalued: we are of the opinion to hold the position with a target lowered to 25 euros, or a potential of 32%.
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- Le Figaro24 Oct, 10:00
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