Carrefour: Oddo BHF maintains 'outperform' rating
(CercleFinance.com) - Oddo BHF maintains its "outperform" rating on Carrefour shares, with a target price of E20.
However, the analyst points to three themes that have fueled the debate in an "unfavorable" way, notably the dynamics in August (Carrefour lost 0.3% of market share, ), the publication of a damning book by a former employee ("Carrefour, la grande arnaque", to be published on September 13), and the departure of CEO France, Rami Baitieh.
Despite this less favorable newsflow, and Bompard's reference to a "tsunami of de-consumption", Oddo BHF believes that none of these factors is likely to disrupt the Group's good operating momentum in the short term, and "does not call into question Carrefour's solid".
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