Carrefour: Oddo BHF still on hold
(CercleFinance.com) - Oddo BHF maintains its 'neutral' rating on the Carrefour share, with an unchanged target price of E15.
In the P13 period (2 to 29 December), Carrefour posted a 2.4% increase in market share to 22.0%.
However, excluding the impact of the Cora and Casino acquisitions, the group actually recorded an organic decline of 0.1%, as Oddo BHF points out.
The analyst also points to the sustained competitive momentum, with +0.2% for Leclerc, +0.4% for Système U, +0.4% for Intermarché, +0.2% for Auchan and +0.5% for Lidl...
While the integration of Cora & Match is improving Carrefour's indicators at first sight, the organic reality remains weak, particularly in hypermarkets and supermarkets, the broker reports.
According to Oddo BHF, the current dynamic could limit visibility on the timing of the inflection point and a significant recovery in a context of strong competition, where Leclerc continues to gain market share steadily and, above all, organically.
Copyright (c) 2025 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.
In the P13 period (2 to 29 December), Carrefour posted a 2.4% increase in market share to 22.0%.
However, excluding the impact of the Cora and Casino acquisitions, the group actually recorded an organic decline of 0.1%, as Oddo BHF points out.
The analyst also points to the sustained competitive momentum, with +0.2% for Leclerc, +0.4% for Système U, +0.4% for Intermarché, +0.2% for Auchan and +0.5% for Lidl...
While the integration of Cora & Match is improving Carrefour's indicators at first sight, the organic reality remains weak, particularly in hypermarkets and supermarkets, the broker reports.
According to Oddo BHF, the current dynamic could limit visibility on the timing of the inflection point and a significant recovery in a context of strong competition, where Leclerc continues to gain market share steadily and, above all, organically.
Copyright (c) 2025 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.