Carrefour: UBS maintains 'buy' rating after China disposal

(CercleFinance.com) - UBS reiterates its "buy" recommendation on the Carrefour stock, along with its target price of 23 euros, which gives it the share of the French food retail giant upside potential of 35%.


The broker believes that the sale of the 80% stake in Carrefour China could generate an accretive effect of about 2% on the group's EPS, noting that this loss-making business has been sold for an enterprise value of 0.38x sales.


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