Ahold Delhaize: Stifel still on hold, adjusts TP
(CercleFinance.com) - Stifel maintains its hold rating on Ahold Delhaize shares, while nudging up its target price for them from 30 euros to 31 euros, in its comments on the Belgo-Dutch food retailer, as well as its French peer Carrefour and Portuguese peer Jeronimo Martins.
"All three food retailers and particularly Jeronimo Martins have convincingly navigated through troubled waters characterized by strong food inflation and fast building cost inflation," the broker acknowledged.
However, noting the uncertainties associated with the effects of the energy crisis on household disposable income, Stifel warns that "FY23 could prove trickier, with still elevated costs and top line falling off a cliff along with CPIs".
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