Casino: Bryan Garnier downgrades 'buy' rating
(CercleFinance.com) - Bryan Garnier has downgraded its "buy" recommendation on Casino to "neutral," cutting its fair value for the stock from 58 euros to 52 euros, not expecting any upturn in the food retailer's stock in the first half.
In its report, the broker highlights the lack of any real visibility on the Brazilian macroeconomic situation, as well as the deterioration in trends in Colombia, which may penalise the group's sum-of-the-parts (SOTP) to a certain point.
It continued, saying that in France, the theoretical positive impact that the new regulation could have on the pricing environment should not be visible before the second half.
Copyright (c) 2018 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.
In its report, the broker highlights the lack of any real visibility on the Brazilian macroeconomic situation, as well as the deterioration in trends in Colombia, which may penalise the group's sum-of-the-parts (SOTP) to a certain point.
It continued, saying that in France, the theoretical positive impact that the new regulation could have on the pricing environment should not be visible before the second half.
Copyright (c) 2018 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.