Jeronimo Martins: Morgan Stanley 'moving to the sidelines'.
(CercleFinance.com) - Morgan Stanley has downgraded the Jeronimo Martins stock from "overweight" to "equal weight," saying it would rather "move to the sidelines" at the share's current price.
The broker said it updated its estimates following recent FX movements and ahead of the group's third-quarter results, raising its target price from 15 euros to 16 euros giving implicit upside potential of just 1%, which has promted analysts to change their rating.
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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 said it updated its estimates following recent FX movements and ahead of the group's third-quarter results, raising its target price from 15 euros to 16 euros giving implicit upside potential of just 1%, which has promted analysts to change their rating.
Copyright (c) 2017 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.