Metro: shares down after broker initiates at 'hold'.
(CercleFinance.com) - Shares in German retailer Metro are down slightly in Frankfurt on Wednesday, after Jefferies initiated its coverage of the stock with a "hold" rating and a target price that is lower than the share's current price.
The US broker has set a target price of 17.30 euros for the stock, against a closing price of 17.45 euros yesterday.
Despite recognising the "valuation attractions" of the shares, Jefferies cites the "challenge" of assuming success in maintaining its margin, despite the commitment to drastically reduce expenses.
The Metro shares are currently down 0.1% at 17.40 euros.
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The US broker has set a target price of 17.30 euros for the stock, against a closing price of 17.45 euros yesterday.
Despite recognising the "valuation attractions" of the shares, Jefferies cites the "challenge" of assuming success in maintaining its margin, despite the commitment to drastically reduce expenses.
The Metro shares are currently down 0.1% at 17.40 euros.
Copyright (c) 2017 CercleFinance.com. All rights reserved.