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Carrefour: Bryan Garnier still a buyer, but cuts target

(CercleFinance.com) - Bryan Garnier has reinstated its "buy" rating on the Carrefour stock, although has trimmed its fair value from 24 euros to 23 euros, after the group cut its EPS estimates by an average of 6%, after publishing its annual results.

"Following the FY publication (underlying operating income of EUR2,006m, fully in line with the guidance) and a subsequent potential adjustment of the consensus, everyone will see things their own way," the broker said.

As far as it is concerned, Bryan Garnier wants to “buy both the concert of cost-cutting moves and its conductor A.Bompard, whose method has seduced us so far.”

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