Carrefour: Oddo still a buyer, but cuts target price
(CercleFinance.com) - Oddo BHF maintains its "buy" rating on the Carrefour share, while cutting its target price from 20 euros to 18 euros, in a sector report on big European food retailers.
The analyst says that the food retail sector is strategic in the face of the COVID-19 crisis, which is regaining a defensive status, that he believes is justified. As a result, he trims his 2020 earnings expectations by just 3.2% for the sector.
Adding that there is no financial problem in the sector and that valuations remain attractive, the broker maintains its sector preferences, with Ahold Delhaize remaining its top pick.
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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.
The analyst says that the food retail sector is strategic in the face of the COVID-19 crisis, which is regaining a defensive status, that he believes is justified. As a result, he trims his 2020 earnings expectations by just 3.2% for the sector.
Adding that there is no financial problem in the sector and that valuations remain attractive, the broker maintains its sector preferences, with Ahold Delhaize remaining its top pick.
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.