Carrefour: share up on broker's comments
(CercleFinance.com) - The Carrefour share is up almost 3% at lunchtime on Thursday, outperforming the CAC40 (up about 1.
5%), thanks to upbeat comments from Barclays analysts, who have reiterated their "overweight" recommendation on the share, with a target price of 17.5 euros for the French food retail giant.
Although the broker has cut its EPS estimates by 4% to take into account the latest currency fluctuations, the stock is trading at a 30% discount relative to its peers, which it says is "Unjustified 30%... given its margin upside potential and its strong balance sheet".
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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.
5%), thanks to upbeat comments from Barclays analysts, who have reiterated their "overweight" recommendation on the share, with a target price of 17.5 euros for the French food retail giant.
Although the broker has cut its EPS estimates by 4% to take into account the latest currency fluctuations, the stock is trading at a 30% discount relative to its peers, which it says is "Unjustified 30%... given its margin upside potential and its strong balance sheet".
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.