Goldman Sachs Slashes Aroundtown Price Target to €1.90

Aroundtown SA's stock has taken a hit after Goldman Sachs cut its price target to €1.90, down from €2.70. The revised target reflects a more cautious stance on the Luxembourg-based real estate group's valuation.

The shares are currently trading at €1.975, below their average analyst target of €3.009 and well under the consensus view that sees potential for re-rating in the listed real estate company.

Aroundtown has also completed a €250 million share buyback program, which has reduced the number of shares outstanding and supported earnings per share. However, this move may not be enough to offset the negative sentiment surrounding the stock's valuation.