Carrefour: stock down after analyst's comments
(CercleFinance.com) - The Carrefour share is currently down 0.
9%, underperforming a rising CAC 40, after the broker Jefferies, which while maintaining its "hold" rating on the stock, has cut its target price from 16.6 euros to 14 euros, therefore reducing its upside potential to around 7%.
"Investors have so far seen limited changes in the group's going to market strategy," laments the broker, noting that Carrefour is continuing to lose market share in France - particularly in hypermarkets.
Analysts therefore expect that on 26 July, the group will publish operating income that is down 14% at 532 million euros. They have cut their target price following the 10% reduction in medium-term earnings expectations.
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.
9%, underperforming a rising CAC 40, after the broker Jefferies, which while maintaining its "hold" rating on the stock, has cut its target price from 16.6 euros to 14 euros, therefore reducing its upside potential to around 7%.
"Investors have so far seen limited changes in the group's going to market strategy," laments the broker, noting that Carrefour is continuing to lose market share in France - particularly in hypermarkets.
Analysts therefore expect that on 26 July, the group will publish operating income that is down 14% at 532 million euros. They have cut their target price following the 10% reduction in medium-term earnings expectations.
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.