Carrefour: Barclays cuts target price before sales announced
(CercleFinance.com) - Barclays reinstates its "weight in line" rating on the Barclays share, while cutting its corresponding target price from 18.
2 euros to 17.5 euros, believing that the group's performance in France, "impacted by a demanding basis of comparison last year and a soft consumer environment this year".
The broker also notes that "the turnaround plan implemented by the group (price investments, reduction of promotional intensity...) implemented has a negative impact on its top-line performance in the short term as illustrated by its noticeable market share losses".
Overall, Barclays anticipates comparable sales excluding fuel and calendar effects to fall by 1.8% for hypermarkets, although should rise by 1.5% for supermarkets in the third 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.
2 euros to 17.5 euros, believing that the group's performance in France, "impacted by a demanding basis of comparison last year and a soft consumer environment this year".
The broker also notes that "the turnaround plan implemented by the group (price investments, reduction of promotional intensity...) implemented has a negative impact on its top-line performance in the short term as illustrated by its noticeable market share losses".
Overall, Barclays anticipates comparable sales excluding fuel and calendar effects to fall by 1.8% for hypermarkets, although should rise by 1.5% for supermarkets in the third 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.