Casino: Bryan Garnier adjusts target after analysts' meeting

(CercleFinance.com) - Bryan Garnier remains "neutral" on the Casino stock, trimming its fair value from 52 euros to 50 euros, after an analysts' meeting at which management said that it was looking for an underlying operating profit of 1,240 million euros in 2018.


Although the broker has cut its EPS estimate by approximately 30%, due to an adjustment in 2018 minority interests, it considers the outlook for the distribution group fairly encouraging.

“It had been several years since JC Naouri (CEO) last appeared to us so open to discussion, offensive and convincing, not only in his answers to the questions that were addressed to him, but also in the comments he chose to make,” the broker confirms.


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