Carrefour: UBS reduces target price

(CercleFinance.com) - UBS believes that H2 will remain difficult in key markets.
The analyst reiterates his Neutral recommendation on the stock, but lowers his target price to E14.1 (from E14.8).

Q3 growth rates are better, but still point to a difficult EBIT outlook for H2, mainly in Europe; we reduce FY24e/FY25e EBIT by 4%/3%, UBS says.

The group has confirmed all its financial targets for 2024: growth in EBITDA and EBIT; Net Free Cash Flow in line with the trajectory of the Carrefour 2026 plan.


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