Carrefour: Oddo still a buyer after results
(CercleFinance.com) - On Wednesday morning, an Oddo BHF analyst confirmed a "buy" recommendation on the Carrefour stock, appreciating results that were "above expectations" thanks to Brazil and Spain.
The broker says that its 2020 EBIT forecasts are after a “COVID bonus”. It is maintaining them unchanged at 2.1 billion euros (+1% in reported terms and +10.9% in organic terms). Meanwhile, it has indeed raised its expectations for Latam (by 8%) to take into account the outperformance of Brazil in H1, while reducing expectations for France by 7% (to 640 million euros vs. 686 million euros previously).
Oddo BHF therefore confirms a 12-month target price of of 18 euros, representing upside potential of 32%.
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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 broker says that its 2020 EBIT forecasts are after a “COVID bonus”. It is maintaining them unchanged at 2.1 billion euros (+1% in reported terms and +10.9% in organic terms). Meanwhile, it has indeed raised its expectations for Latam (by 8%) to take into account the outperformance of Brazil in H1, while reducing expectations for France by 7% (to 640 million euros vs. 686 million euros previously).
Oddo BHF therefore confirms a 12-month target price of of 18 euros, representing upside potential of 32%.
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.