Carrefour: Invest Securities unenthusiastic about Q3
(CercleFinance.com) - With Carrefour set to make a trading update when it unveils its Q3 2018 sales tomorrow, Invest Securities fears a "lack of momentum" and confirms its neutral rating on the stock.
However, the broker has increased its target price for the share from 14 euros to 15.4 euros, which is more or less the share's current price.
Over a year after the appointment of Alexandre Bompard at the head of the group (...), the only very positive point to credit new management with, says the Parisian broker, is cost-reduction measures that are well on track, including the removal of some “dead branches” that could create positive expectations around the stock.
That being so, Invest Securities laments the fact that nothing concrete can be seen in terms of revenues, which Q3 sales, due out tomorrow should confirm, despite a weak comparison basis.
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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.
However, the broker has increased its target price for the share from 14 euros to 15.4 euros, which is more or less the share's current price.
Over a year after the appointment of Alexandre Bompard at the head of the group (...), the only very positive point to credit new management with, says the Parisian broker, is cost-reduction measures that are well on track, including the removal of some “dead branches” that could create positive expectations around the stock.
That being so, Invest Securities laments the fact that nothing concrete can be seen in terms of revenues, which Q3 sales, due out tomorrow should confirm, despite a weak comparison basis.
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.