Carrefour : UBS lowers its target price

(CercleFinance.com) - UBS believes that the second half of the year will remain difficult in key markets.
The analyst reiterates his Neutral recommendation on the stock, but lowers his price target 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%' says UBS.

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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