Casino: Invest Securities upgrades stock
(CercleFinance.com) - Invest Securities has upgraded its rating on the Casino share from "sell" to "neutral," having adjusted its target price from 33.
4 euros to 32 euros, while its shareholder reference Rallye has placed under a safeguard procedure for six months to restructure its debt.
This has been known about for a long time. The financial risk of Casino has been boosted at Rallye, which has not stopped piling up debt without producing any counterparty in assets, because of its status as a holding company, the analyst said on this matter.
The risk has become more pressing as we approach the major debt maturities against which the market has been less and less convinced in Rallye's ability to respect them, he continues.
The Casino share is soaring this morning - up nearly 12% just before 10 am.
Copyright (c) 2019 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.
4 euros to 32 euros, while its shareholder reference Rallye has placed under a safeguard procedure for six months to restructure its debt.
This has been known about for a long time. The financial risk of Casino has been boosted at Rallye, which has not stopped piling up debt without producing any counterparty in assets, because of its status as a holding company, the analyst said on this matter.
The risk has become more pressing as we approach the major debt maturities against which the market has been less and less convinced in Rallye's ability to respect them, he continues.
The Casino share is soaring this morning - up nearly 12% just before 10 am.
Copyright (c) 2019 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.