Metro: Invest Securities cuts target price
(CercleFinance.com) - In a report issued on Tuesday, Invest Securities has reduced its target price for Metro from 23.
5 euros to 22 euros, while maintaining its "buy" rating.
We were expecting the new Metro AG (WFS) to do better since the spin off from which it came, the broker says, which has found that it is Metro's core business that is disappointing, while the fears were about Ceconomy, the group's specialty retailing business.
Perhaps we were hoping for more in terms of strategic mobility, as Ceconomy has already shown, while Metro has not completed its structural transformation, Invest Securities repeats, for which "it becomes difficult to understand why the performances are so unequally distributed across different countries.
In the end, although the stock's profile enables investors to wait, they are currently fairly tired of it, the analyst who monitors the stock said.
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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.
5 euros to 22 euros, while maintaining its "buy" rating.
We were expecting the new Metro AG (WFS) to do better since the spin off from which it came, the broker says, which has found that it is Metro's core business that is disappointing, while the fears were about Ceconomy, the group's specialty retailing business.
Perhaps we were hoping for more in terms of strategic mobility, as Ceconomy has already shown, while Metro has not completed its structural transformation, Invest Securities repeats, for which "it becomes difficult to understand why the performances are so unequally distributed across different countries.
In the end, although the stock's profile enables investors to wait, they are currently fairly tired of it, the analyst who monitors the stock said.
Copyright (c) 2017 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.