UBS cut target for Icade stock to EUR 13 from EUR 17.50

Published on 10/13/2026 at 03:01 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

First-half revenue fell 4.70 percent to EUR 600.80 million in 2026. For Icade stock, cash-flow guidance stayed at EUR 2.90-3.10 per share.

Key points in brief

UBS cut Icade's price target to EUR 13.00 from EUR 17.50 on October 9, 2026, retaining a Sell rating.
First-half 2026 revenue fell 4.70 percent to EUR 600.80 million, while the net loss reached EUR 155.90 million.
The last Lang & Schwarz quote was EUR 14.39 on October 12, 2026, and Icade is scheduled to report third-quarter results on October 20, 2026.

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UBS had cut its target for Icade stock to EUR 13.00 from EUR 17.50 on October 9, 2026, while maintaining a Sell rating, according to Ideal Investisseur. The revised target sits below the last available euro quote of EUR 14.39.

UBS target falls to EUR 13

The target reduction followed a difficult first half. Icade's revenue fell 4.70 percent from EUR 623.50 million in the first half of 2025 to EUR 604.80 million in the first half of 2026, while the net loss deepened from EUR 91.70 million to EUR 155.90 million, Ideal Investisseur reported.

The same report said Icade confirmed 2026 net current cash flow guidance of EUR 2.90-3.10 per share. It also cited a 3.10 percent decline in asset value on a constant-scope basis, making valuation and cash generation the central measures for the next update.

What does guidance mean for cash flow?

The guidance range gives the October results a clear numerical test. A result near the lower end would leave the stock facing the combination of a EUR 13.00 UBS target and a first-half loss of EUR 155.90 million, while a result near the upper end would show that cash generation held within the company's stated plan.

Icade identifies the ReShapE plan as its strategic framework and lists the 2026 half-year results presentation dated July 22, 2026. The company combines property investment with property development across France.

Three dated company milestones

On July 22, 2026, Icade presented first-half revenue of EUR 604.80 million and confirmed its cash-flow range, according to Ideal Investisseur. On September 30, 2026, Icade reported 76,234,545 issued shares through WebDisclosure. On October 9, 2026, UBS cut its target to EUR 13.00 from EUR 17.50, as Ideal Investisseur reported.

Next reporting date is October 20

Icade is scheduled to report third-quarter 2026 results on October 20, 2026, according to Simply Wall St. That release will give investors the next reported operating checkpoint after the first-half revenue decline and the EUR 2.90-3.10 per-share cash-flow range.

Last quote remains below target

Icade was last at EUR 14.39 at Lang & Schwarz on October 12, 2026 at 10:58 p.m. CEST. The quote was dated before the October 13 publication date, so the article uses it as the latest available euro price rather than as a same-day market move.

The further course of trading is shown by the continuously updated real-time quote of Icade stock.