Unibail-Rodamco-Westfield Act. SIIC ET STES FONC.EUROP.

URW: XPAR (FRA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	LOCK\|F?	LOCK\|FV	LOCK\|^q

Unibail-Rodamco-Westfield: Ongoing Recovery Suggests Securities Substantially Undervalued

Alexander Prineas

Apr 28, 2023

A solid first-quarter-2023 trading update from no-moat Unibail-Rodamco-Westfield, or URW, reaffirms our thesis that URW securities are significantly undervalued. We maintain our EUR 95.50 fair value estimate (AUD 7.80 for the Australian-listed chess depositary interests).

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Unibail-Rodamco-Westfield Act. SIIC ET STES FONC.EUROP.

Unibail-Rodamco-Westfield: Ongoing Recovery Suggests Securities Substantially Undervalued

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