Carrefour: Credit Suisse upgrades stock
(CercleFinance.com) - Credit Suisse has changed its mind about Carrefour, having upgraded its previous sell rating ("underperform"), to “neutral,” inching up its target price for the share from 15.
9 euros to 16 euros.
Analysts' main argument is the fall in the share price of the French retailer, which has reached 14% since the start of 2018 in Paris. However, analysts maintain their estimates for the group.
Despite this, Credit Suisse has not become more aggressive towards Carrefour, as the group's forthcoming results will prove to be "painful," and that expectations (regarding the group) still appear to be optimistic.
However, any sign of stabilisation in sales and improvements in the discipline of the group's capital allocation should boost the share, the broker's report says.
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