Ahold Delhaize: Invest Securities still a buyer
(CercleFinance.com) - Invest Securities reaffirms its "buy" rating on the Ahold Delhaize share, having raised its corresponding target price from 25.
7 euros to 26.5 euros, describing the food retailer as one of the very good students in the Covid-19 class after the publication of its H1 results.
The broker says that Ahold Delhaize posted impressive sales growth, which in the US was fuelled by massive transfers of consumption to the home in a country where out-of-home catering absorbed nearly 60% of food consumption.
Adding that operating EBIT in the US rose sharply at the end of the half-year, the broker considers that at this stage, its annual results pretty much guaranteed, even though the risk of an economic downturn may curb this remarkable momentum.
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