Colruyt: Oddo BHF, says 'reduce' - revises target

(CercleFinance.com) - On Thursday an analyst at Oddo BHF confirms a "reduce" rating on the share of Belgian retail group Colruyt.


Indeed, while he notes a first half that is slightly above expectations, he believes that the share's valuation remains high.

The group's resilient model and its ability to generate FCF is indeed an asset, although Oddo does not think that this justifies the valuation gap relative to its sector or Ahold Delhaize in particular, a company that has the same virtues, the broker notes.

However, Oddo BHF has nudged up its target price for the share from 41 euros to 43 euros. This still represents downside potential of around 13%.


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