Argan is up more than 2% ahead of tonight's publication of the logistics property company's annual sales figures, with Oddo BHF reaffirming its 'outperform' rating on the stock despite an adjusted target price of €120 to €105.

Overall, we expect the company to maintain its growth trajectory over 2022 / 2023", says the analyst, who sees 2022 earnings per share up by 4.7% to 5.21 euros, including annual sales of around 165 million.

As a reminder, in early October Argan announced rental revenues of 122.9 million euros for the first nine months of 2022, up 5% on the same period last year.

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