Carrefour: Oddo confirms rating after good Q2 results.
(CercleFinance.com) - Oddo maintains its buy rating on the Carrefour share, with an unchanged target price of 28 euros, after the group's announcement of robust Q2 sales figures.
The group announced total Q2 2017 sales of 21.75 billion euros, up 6.1%. Organic growth was up significantly from Q1 2017 (+3.3% vs. +1.9%).
Shifted to 30 August because of Atacadao's IPO, Carrefour's interim results, a priori, will be weak, Oddo says.
The broker deems that the price investments of hypermarkets in France will weigh on the group's margin. Furthermore, the group will bear the costs of integrating the Eroski hypermarkets in Spain, and to a lesser extent, those of the Billa stores in Romania.
Copyright (c) 2017 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.
The group announced total Q2 2017 sales of 21.75 billion euros, up 6.1%. Organic growth was up significantly from Q1 2017 (+3.3% vs. +1.9%).
Shifted to 30 August because of Atacadao's IPO, Carrefour's interim results, a priori, will be weak, Oddo says.
The broker deems that the price investments of hypermarkets in France will weigh on the group's margin. Furthermore, the group will bear the costs of integrating the Eroski hypermarkets in Spain, and to a lesser extent, those of the Billa stores in Romania.
Copyright (c) 2017 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.