Carrefour: Barclays raises target price
(CercleFinance.com) - While maintaining its "weight in line" rating on the Carrefour share, Barclays has increased its target price from 17.
5 euros to 18.2 euros, believing that "French EBIT likely to benefit from tailwinds."
Although it expects relatively weak second quarter sales in French hypermarkets (-0.5% LFL), the broker anticipates a decent performance in supermarkets and convenience stores/other formats (+2.2% and +2.1% LFL respectively).
Barclays expects French EBIT to increase from 110 million to 125 million euros in H1, meaning a 10 bp gain in its EBIT margin, thanks to the group's cost-reduction program and the positive impact of the new retail law.
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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 to 18.2 euros, believing that "French EBIT likely to benefit from tailwinds."
Although it expects relatively weak second quarter sales in French hypermarkets (-0.5% LFL), the broker anticipates a decent performance in supermarkets and convenience stores/other formats (+2.2% and +2.1% LFL respectively).
Barclays expects French EBIT to increase from 110 million to 125 million euros in H1, meaning a 10 bp gain in its EBIT margin, thanks to the group's cost-reduction program and the positive impact of the new retail law.
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.