Casino: Oddo BHF cuts target price
(CercleFinance.com) - On Monday, an analyst at Oddo BHF maintains its neutral rating on the Casino stock, a few days before the group publishes its Q2 2018 sales figures (due before the market opens on 17 July).
The broker expects consolidated sales of 8,775 million euros, -4.5%e as reported (FX factors -7%e and a calendar impact -0.9%e).The performance of Q2 will be in line with that of Q1 2018, or +1.6% LFL and +3.5% in organic terms, Oddo BHF forecasts.
Recalling that Casino's priority is deleveraging, in order to ease the financial pressure on Casino France and its parent company Rallye, Oddo BHF has also cut its target price from 40 euros to 36 euros.
Given difficulties in the sector, the share does not appear to have any additional upside potential at its current price. In terms of multiples, the share is trading is in line with the sector average in continental Europe, it adds.
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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.
The broker expects consolidated sales of 8,775 million euros, -4.5%e as reported (FX factors -7%e and a calendar impact -0.9%e).The performance of Q2 will be in line with that of Q1 2018, or +1.6% LFL and +3.5% in organic terms, Oddo BHF forecasts.
Recalling that Casino's priority is deleveraging, in order to ease the financial pressure on Casino France and its parent company Rallye, Oddo BHF has also cut its target price from 40 euros to 36 euros.
Given difficulties in the sector, the share does not appear to have any additional upside potential at its current price. In terms of multiples, the share is trading is in line with the sector average in continental Europe, it adds.
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.