Casino: Oddo BHF still neutral after results
(CercleFinance.com) - On Friday morning, an analyst at Oddo BHF confirmed a "neutral" recommendation on the Casino share, noting that the group's 2019 results are a little below expectations.
The broker is maintaining its rating on the Casino share, which has withstood the COVID-19 crisis particularly well in the stockmarket (fall limited to 1.7% in absolute terms over the past month). Q1 2020 sales will be far beyond normal, although Oddo BHF remains cautious regarding the consequences on margins and costs induced by operating conditions that are "exceptional" in all respects. Analysts also understand the economic impact of the exit from the COVID-19 crisis, especially on the Brazilian economy, it adds.
Oddo BHF therefore confirms its target price of 40 euros for the share, meaning upside potential of 14%.
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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 is maintaining its rating on the Casino share, which has withstood the COVID-19 crisis particularly well in the stockmarket (fall limited to 1.7% in absolute terms over the past month). Q1 2020 sales will be far beyond normal, although Oddo BHF remains cautious regarding the consequences on margins and costs induced by operating conditions that are "exceptional" in all respects. Analysts also understand the economic impact of the exit from the COVID-19 crisis, especially on the Brazilian economy, it adds.
Oddo BHF therefore confirms its target price of 40 euros for the share, meaning upside potential of 14%.
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.