Carrefour: stock up after Q3 results
(CercleFinance.com) - The Carrefour share is up around 2% on Wednesday, clearly outperforming the CAC 40, with investors and analysts pleased by its quarterly results.
This morning Oddo BHF confirmed its "Buy" rating on the share, which, after announcing its Q3 sales numbers, notes that the sequential slowdown is in line with expectations and that the consensus' expectations are deemed coherent by the group.
Oddo expects slightly more than the consensus (+1.7% at 2,080 million euros) as it believes that the group can beat the consensus (remember that the estimated impact of the Yellow Vests (gilets jaunes) crisis in Q4 2018 is around 50 million euros on EBIT). The broker says that the share's discount (-19% in terms of 2019e P/E and EV/EBIT) integrates the 'risk' of a possible offer for Casino, it says.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
This morning Oddo BHF confirmed its "Buy" rating on the share, which, after announcing its Q3 sales numbers, notes that the sequential slowdown is in line with expectations and that the consensus' expectations are deemed coherent by the group.
Oddo expects slightly more than the consensus (+1.7% at 2,080 million euros) as it believes that the group can beat the consensus (remember that the estimated impact of the Yellow Vests (gilets jaunes) crisis in Q4 2018 is around 50 million euros on EBIT). The broker says that the share's discount (-19% in terms of 2019e P/E and EV/EBIT) integrates the 'risk' of a possible offer for Casino, it says.
Copyright (c) 2019 CercleFinance.com. All rights reserved.