Jeronimo Martins: double upgrade by UBS

(CercleFinance.com) - UBS upgrades Jeronimo Martins shares directly from 'sell' to 'buy', with a target price raised from E18.
5 to E23; the new target offers 25% upside potential for the food retailer's stock.

It's time to be bold, the broker says, who highlights the potential for margin recovery expected in the medium term and the attractive risk/return profile of the Portuguese group (which also owns the Biedronka chain in Poland).


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