Carrefour: Bryan Garnier still a buyer, but cuts target
(CercleFinance.com) - Bryan Garnier has reinstated its "buy" rating on the Carrefour stock, although has trimmed its fair value from 24 euros to 23 euros, after the group cut its EPS estimates by an average of 6%, after publishing its annual results.
"Following the FY publication (underlying operating income of EUR2,006m, fully in line with the guidance) and a subsequent potential adjustment of the consensus, everyone will see things their own way," the broker said.
As far as it is concerned, Bryan Garnier wants to “buy both the concert of cost-cutting moves and its conductor A.Bompard, whose method has seduced us so far.”
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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.
"Following the FY publication (underlying operating income of EUR2,006m, fully in line with the guidance) and a subsequent potential adjustment of the consensus, everyone will see things their own way," the broker said.
As far as it is concerned, Bryan Garnier wants to “buy both the concert of cost-cutting moves and its conductor A.Bompard, whose method has seduced us so far.”
Copyright (c) 2018 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.