Metro: Invest Securities no longer a buyer
(CercleFinance.com) - In a report issued on Monday morning, Invest Securities downgraded its "buy" rating on Metro.
Having adopted a "neutral" rating, alongside this downgrade, the broker has also cut its target price from 21 euros to 17 euros.
The Metro Wholesale business model (BM) is of high quality, reputedly flexible in the face of changes in the business world, although it is sometimes very inefficient, the broker summarises, which says that this is due to its geographic scope, which is still dispersed. In addition, its sensitivity to the business cycle in Europe (out-of-home consumption: 40% of revenues) only really played a role in the crisis.
In addition, Invest Securities points out that the group's recent results are fairly disappointing and are often out of step with expectations, a finding that continues after the group's spin-off.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
Having adopted a "neutral" rating, alongside this downgrade, the broker has also cut its target price from 21 euros to 17 euros.
The Metro Wholesale business model (BM) is of high quality, reputedly flexible in the face of changes in the business world, although it is sometimes very inefficient, the broker summarises, which says that this is due to its geographic scope, which is still dispersed. In addition, its sensitivity to the business cycle in Europe (out-of-home consumption: 40% of revenues) only really played a role in the crisis.
In addition, Invest Securities points out that the group's recent results are fairly disappointing and are often out of step with expectations, a finding that continues after the group's spin-off.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.