Carrefour: Barclays raises target price

(CercleFinance.com) - On Friday Barclays analysts added a euro to their target price fir the Carrefour share, which is now 19 euros (vs.
18 euros), for which they see an "attractive" risk/return profile, prior to the group's H1 results.

The broker - which maintains an "overweight" rating on the stock - thinks that it could introduce a new program for distribution to shareholders.

"We expect Carrefour will report improving performances in France at its 1H results (due on 28 July after close) as the strategic initiatives and improved in-store execution are bearing fruit," Barclays says.

Above all, analysts believe that the group could occasionally announce the launch of a new share buyback program after having largely completed its previous plan of 500 million euros.

The Carrefour share is currently trading at 16.4 euros, up about 0.7%, although is underperforming the CAC 40 by about 1%.


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