Ahold Delhaize: Oddo BHF still a buyer after results
(CercleFinance.com) - Broker Oddo BHF reinstates its “buy” rating on the Ahold Delhaize stock, along with its target price of 25 euros, the day after the the Belgo-Dutch food retailer published 2018 results that exceeded expectations.
"In spite of a strong stockmarket performance (+26% in absolute terms over the past 12 months, vs. -2.6% for the Stoxx
Europe 60/Retail index), Ahold Delhaize's valuation remains attractive and investors should take advantage of any price weakness," the broker says.
Based on his TP, the analyst notes that the stock would benefit from a premium of 10%, which seems rational, given the group's strong leading positions, which induce a resistance in margins, high FCF generation and a policy of regular share buybacks.
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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.
"In spite of a strong stockmarket performance (+26% in absolute terms over the past 12 months, vs. -2.6% for the Stoxx
Europe 60/Retail index), Ahold Delhaize's valuation remains attractive and investors should take advantage of any price weakness," the broker says.
Based on his TP, the analyst notes that the stock would benefit from a premium of 10%, which seems rational, given the group's strong leading positions, which induce a resistance in margins, high FCF generation and a policy of regular share buybacks.
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.