Carrefour: Barclays sees weak start to year
(CercleFinance.com) - Barclays maintains its "weight in line" rating on the Carrefour share, along with its target price of 17.
5 euros, believing that "the new retail law in France had a limited impact on Carrefour's top line growth in 1Q.”
"Although price inflation accelerated on some product categories, the group continued to lose market share during the period according to Kantar Worldpanel," the broker warns.
Overall, it expects comparable sales, excluding gasoline and calendar effects, to fall by 1.5% at hypermarkets, although expects sales to rise by 1.3% at supermarkets, broadly in line with trends in the fourth quarter.
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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.
5 euros, believing that "the new retail law in France had a limited impact on Carrefour's top line growth in 1Q.”
"Although price inflation accelerated on some product categories, the group continued to lose market share during the period according to Kantar Worldpanel," the broker warns.
Overall, it expects comparable sales, excluding gasoline and calendar effects, to fall by 1.5% at hypermarkets, although expects sales to rise by 1.3% at supermarkets, broadly in line with trends in the fourth quarter.
Copyright (c) 2019 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.