Sainsbury: share price up, broker's analysis

(CercleFinance.com) - Sainsbury gained over 1% in London, after Barclays reiterated its 'overweight' recommendation on the stock, as well as its target price of £3.
40, with a slight increase in its EPS estimates (+1.1% for 2024-25, and +0.6% for the following two years).

At the end of 2023, we believed that concerns about the prospects for Tesco and Sainsbury were exaggerated, and we are more convinced of this today", says the broker in a note on British food retailing.

In addition, the broker highlights several favorable developments in the sector since the beginning of the year, including the disposal of banking activities by the groups concerned, as well as growth in retail media.

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