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.
Copyright (c) 2020 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.
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.
Copyright (c) 2020 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.