Metro: Invest Securities still a seller, but raises TP

(CercleFinance.com) - Invest Securities maintains its sell rating on Metro shares, having increased its target price for them from 7 euros to 7.
4 euros, acknowledging that had there not been the war in Ukraine, Metro would have had a brilliant year.

The broker considers that the momentum, which justified a new increase in annual guidance is not sustainable, as the restaurant sector is traditionally very sensitive to economic fluctuations.

The analyst says that this could be seen as early as Q1 2022-23 and worsen a risk profile that is already marked by the group's presence in Ukraine, and particularly in Russia, where Metro is cornered for the moment.


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