Ahold Delhaize: UBS upgrades to 'neutral' again

(CercleFinance.com) - Ahold Delhaize shares are down XX% on Tuesday, despite UBS upgrading its rating on the food retailer's stock from "sell" to "neutral," while increasing its target price from 18 euros to 22 euros.


"Ahold Delhaize's cost-saving plan revealed more flex in the financial model that we'd thought," UBS said.

"Our prior thesis of a consensus downgrade cycle is unlikely to materialise," the broker said.

Ahold shares are currently down 1.4% at 22.5 euros in late morning trading on Euronext Amsterdam.



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