Carrefour : UBS reduces TP
(CercleFinance.com) - While maintaining its 'neutral' recommendation on Carrefour shares, UBS has lowered its target price for them from E17 to E15.
3 - leaving 7% upside potential for the stock - as the broker sees its H1 results as unlikely to be a turning point.
Carrefour is cheap, trading at a P/E of 8x, with much of the French negativity probably priced in, although Europe remains a risk. Improvement in France and better visibility in Europe are needed for an inflexion, the broker believes.
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The information and analyses distributed by Cercle Finance 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.
The information and analyses published by Cercle Finance are intended solely as a decision-making aid for investors. Cercle Finance cannot be held responsible, directly or indirectly, for the use of information and analyses by readers. Uninformed investors are advised to consult a professional advisor before investing. This information does not constitute an invitation to sell or a solicitation to buy.
3 - leaving 7% upside potential for the stock - as the broker sees its H1 results as unlikely to be a turning point.
Carrefour is cheap, trading at a P/E of 8x, with much of the French negativity probably priced in, although Europe remains a risk. Improvement in France and better visibility in Europe are needed for an inflexion, the broker believes.
Copyright (c) 2024 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance 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.
The information and analyses published by Cercle Finance are intended solely as a decision-making aid for investors. Cercle Finance cannot be held responsible, directly or indirectly, for the use of information and analyses by readers. Uninformed investors are advised to consult a professional advisor before investing. This information does not constitute an invitation to sell or a solicitation to buy.