Carrefour: Oddo, a buyer, notes 'message of confidence'
(CercleFinance.com) - An Oddo BHF analyst today confirms a "buy" recommendation on the Carrefour share, retaining a "message of confidence for 2020," even though this lacks quantified targets.
After two years of the Transformation Plan (2018-2022), the Carrefour group believes that it now has a solid base. The group's structure has improved, as has its price competitiveness (but there is still a long way to go for hypermarkets in France). The group believes that there is growth in the sector and that it is well positioned to capture it, the broker appreciates.
Oddo BHF thus confirms its target price of 20 euros, meaning upside potential of 24%. In the currently worrying context, the broker says that, in relative terms, it is more comfortable investing in the food retail sector.
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