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Metro: Berenberg cuts target price

(CercleFinance.com) - German broker Berenberg has trimmed its target price for the Metro share from 14.
40 euros to 14.20 euros, while maintaining its "buy" rating.

In note to clients, Berenberg warned that the group's Russian business should remain a drag in 2020.

The shares fell by up to 5% to 13.1 euros in late morning trading on the Frankfurt Stock Exchange.

However, the share's drop seems to be more due to its downgrade by analysts of Bernstein, who this morning assigned an "underperform" rating to the shares, according to market sources.

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