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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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.
"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.
Copyright (c) 2020 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.