Carrefour: Oddo begins tracking as a buyer
(CercleFinance.com) - Oddo BHF has initiated coverage of Carrefour shares with an "outperform" rating and a target price of 23.
5 euros.
Carrefour benefits from upbeat momentum in Brazil - both operationally and with the currency effect - while the likelihood of a bid from Auchan, which is exposed to Russia - is receding, the broker said. The group still has internal leverage, it adds.
The broker says that its target price of 23.5 euros is higher than the consensus, although believes that that the group will have to progress to integrate the evolution of the euro/Brazilian real exchange rate, with 31% of the 2021 ROI was made in Brazil.
The Carrefour share is currently up 2% at about 21 euros, more than double the CAC 40's performance in Paris.
Copyright (c) 2022 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.
5 euros.
Carrefour benefits from upbeat momentum in Brazil - both operationally and with the currency effect - while the likelihood of a bid from Auchan, which is exposed to Russia - is receding, the broker said. The group still has internal leverage, it adds.
The broker says that its target price of 23.5 euros is higher than the consensus, although believes that that the group will have to progress to integrate the evolution of the euro/Brazilian real exchange rate, with 31% of the 2021 ROI was made in Brazil.
The Carrefour share is currently up 2% at about 21 euros, more than double the CAC 40's performance in Paris.
Copyright (c) 2022 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.