Ahold Delhaize: shares resilient after broker downgrade
(CercleFinance.com) - Ahold Delhaize shares showed resilience on Friday after Goldman Sachs downgraded them from "buy" to "neutral," warning that the stock now has "limited" upside.
"Despite recent share price strength, we believe the inflation outlook in Ahold Delhaize's core markets is pointing to continued low, or even falling, food price inflation," the broker said.
"This limits the opportunity for upgrades and/or a further re-rating we believe," it added in a note sent to clients.
Ahold Delhaize shares - which have risen by 9% in 2018 - are keeping their head above water - up 0.1% at 20 euros at mid-day today.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
"Despite recent share price strength, we believe the inflation outlook in Ahold Delhaize's core markets is pointing to continued low, or even falling, food price inflation," the broker said.
"This limits the opportunity for upgrades and/or a further re-rating we believe," it added in a note sent to clients.
Ahold Delhaize shares - which have risen by 9% in 2018 - are keeping their head above water - up 0.1% at 20 euros at mid-day today.
Copyright (c) 2018 CercleFinance.com. All rights reserved.