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Carrefour: Oddo confirms rating after results

(CercleFinance.com) - Group sales increased by 3.
5% to 38,793 million euros (+2.1% at constant exchange rates) in the first half of 2019.

The group made a net loss, group share of 399 million euros. Adjusted net income, group share, improved by 44 million euros to 179 million euros, against 185 million euros in H1 2018.

Oddo confirms its buy rating on the share, maintaining its target price of 20 euros, deeming that it is trading at an attractive discount.
Analysts say that the group's interim results are encouraging - especially in France. The balance between productivity gains and capex is starting to balance.

Analysts underline that the group's cost reduction targets have been confirmed at 2.6 billion euros (except in China), including the 1.4 billion euros generated to date, including 470 million euros in the first half of 2019.


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The information and analyses distributed by Cercle FFR0000120172inance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
 

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