Casino: BarCap cuts target price
(CercleFinance.com) - Barclays Capital (BarCap) maintains its "underweight" rating on Casino and has cut its target price for the share to 34 euros, after it reduced its EPS estimates for the food retail group by around 3%.
The broker explains that its new estimates take into account recent FX developments, as well as its more cautious view of Casino's performance in France and abroad.
The broker adds that it considers that Casino is trading at generous multiples, given the group's complex structure, its weak earnings momentum and high risk profile, the broker adds.
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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 explains that its new estimates take into account recent FX developments, as well as its more cautious view of Casino's performance in France and abroad.
The broker adds that it considers that Casino is trading at generous multiples, given the group's complex structure, its weak earnings momentum and high risk profile, the broker adds.
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.