Carrefour: Barclays still neutral
(CercleFinance.com) - Barclays points out that most of the performance indicators continued to deteriorate at the group's hypermarkets last year.
The broker presents an analysis of the share, based on KPIs measured by Kantar.
Following this study, Barclays confirms its "Equal Weight" rating on the share, with a target price of 17.50 euros.
However, Barclays stresses that the overall perception has improved in Carrefour hypermarkets, with the third best performance on this criterion last year (64% of customers surveyed like Carrefour hypermarkets compared to 61.4% in 2018).
"Although the banner's price perception improved slightly in 2019, it remains well behind its main competitors (30.4% of customers agree that Carrefour hypermarkets offer cheap prices vs. 32.3% for Intermarché, 54.1% for Leclerc and 72.1% for Lidl)," Barclays adds.
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.
The broker presents an analysis of the share, based on KPIs measured by Kantar.
Following this study, Barclays confirms its "Equal Weight" rating on the share, with a target price of 17.50 euros.
However, Barclays stresses that the overall perception has improved in Carrefour hypermarkets, with the third best performance on this criterion last year (64% of customers surveyed like Carrefour hypermarkets compared to 61.4% in 2018).
"Although the banner's price perception improved slightly in 2019, it remains well behind its main competitors (30.4% of customers agree that Carrefour hypermarkets offer cheap prices vs. 32.3% for Intermarché, 54.1% for Leclerc and 72.1% for Lidl)," Barclays adds.
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.