Metro: Invest Securities still a seller, raises TP

(CercleFinance.com) - Invest Securities maintains its "sell" rating on Metro shares, while nudging up its target price for them from 7.
2 euros to 7.5 euros, after the German retail group published results that were pretty much in line with expectations for 2022, in addition to reiterating its guidance.

Metro is approaching the current financial year in more difficult conditions, with a very demanding comparison basis, faced with a risk of a cyclical turnaround that places the catering sector as one of the most sensitive to economic fluctuations, the analyst warns.

It also points out that the group seems determined to continue its operations in Russia, which no doubt illustrates the difficulty of abandoning a business model that, on average, is as profitable as it is buoyant, without having any real alternative to replace it.


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