Ahold Delhaize: Berenberg starts coverage with 'sell' rating
(CercleFinance.com) - Berenberg initiated coverage of Dutch retailer Ahold Delhaize with a "sell" rating, with a target price of 18.
2 euros, saying the company is shrouded in a "competitive storm."
"Ahold Delhaize has severely underinvested in its US business (around 60% of profits), with pricing, store standards and customer satisfaction significantly behind peers at a time when competition is accelerating at an unprecedented pace," the German broker said.
Shares of the Netherlands' biggest retailer were down 2.8% at 21.1 euros at noon today.
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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.
2 euros, saying the company is shrouded in a "competitive storm."
"Ahold Delhaize has severely underinvested in its US business (around 60% of profits), with pricing, store standards and customer satisfaction significantly behind peers at a time when competition is accelerating at an unprecedented pace," the German broker said.
Shares of the Netherlands' biggest retailer were down 2.8% at 21.1 euros at noon today.
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.