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Carrefour: Barclays reassured, but remains neutral

(CercleFinance.com) - On Wednesday an analyst at Barclays confirms a "neutral" ("Equal Weight") rating on the share of French retail group Carrefour, after the group's preliminary Q4 results were "not as bad as feared".

"Thanks to the strong execution on its cost-cutting programme, we believe that Carrefour managed to limit the negative impact of the strikes on its operating performances. However, visibility on the pace of improvement in its growth turnover remains limited," Barclays analysts say.

The broker confirms its target price of 17.50 euros for the share.

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