Carrefour: UBS reduces target price
(CercleFinance.com) - UBS believes that H2 will remain difficult in key markets.
The analyst reiterates his Neutral recommendation on the stock, but lowers his target price to E14.1 (from E14.8).
Q3 growth rates are better, but still point to a difficult EBIT outlook for H2, mainly in Europe; we reduce FY24e/FY25e EBIT by 4%/3%, UBS says.
The group has confirmed all its financial targets for 2024: growth in EBITDA and EBIT; Net Free Cash Flow in line with the trajectory of the Carrefour 2026 plan.
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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 analyst reiterates his Neutral recommendation on the stock, but lowers his target price to E14.1 (from E14.8).
Q3 growth rates are better, but still point to a difficult EBIT outlook for H2, mainly in Europe; we reduce FY24e/FY25e EBIT by 4%/3%, UBS says.
The group has confirmed all its financial targets for 2024: growth in EBITDA and EBIT; Net Free Cash Flow in line with the trajectory of the Carrefour 2026 plan.
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.