Carrefour: UBS lowers its target price
(CercleFinance.com) - UBS remains neutral on the stock, trimming its target price for it to E14.
8 (from E15.3 - cp: E13.7, -0.7%), following Carrefour's results. The analyst believes that "better visibility in Europe needed".
"Stabilising Brazil /improving France were more than outweighed by a significant Europe miss. Better execution needed for re-rating from here", UBS says.
The group announced adjusted net income, group share, of E313m, up 2.2%, giving adjusted net EPS of E0.46 (+8%).
On the strength of these results, Carrefour is approaching H2 with confidence, and confirms its financial targets for 2024.
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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.
8 (from E15.3 - cp: E13.7, -0.7%), following Carrefour's results. The analyst believes that "better visibility in Europe needed".
"Stabilising Brazil /improving France were more than outweighed by a significant Europe miss. Better execution needed for re-rating from here", UBS says.
The group announced adjusted net income, group share, of E313m, up 2.2%, giving adjusted net EPS of E0.46 (+8%).
On the strength of these results, Carrefour is approaching H2 with confidence, and confirms its financial targets for 2024.
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.