Carrefour: Oddo confirms rating
(CercleFinance.com) - Carrefour has announced the acquisition of 30 Cash & Carry stores in Brazil (including 22 fully owned and eight rented stores), along with 14 service stations, for a price of 1.
95 billion reais (about 56 million euros), paid for in cash.
Oddo believes that this deal is a growth accelerator at a reasonable price, saying that it is an acquisition that does not jeopardize Carrefour's future financial ability in Brazil if the opportunity GPA opportunity were to arise.
Oddo recaps its forecasts for 2019, which include EBIT of 2,080 million euros.
The broker confirms its buy rating on the share, with a target price of 20 euros.
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