Casino: Bryan Garnier upgrades stock

(CercleFinance.com) - Bryan Garnier has upgraded its rating on the Casino stock from "neutral" to "buy," with a fair value of 19 euros, after the retail group presented a "solid set of LFL figures" for its first quarter.


"Today's publication will not erase the current concerns of the market regarding Lerclerc's ambition in Paris but, clearly, could bring some reassurance as to the relative strength of the commercial momentum," the broker said.

Bryan Garnier also notes that "Casino is also in a process of de-risking its business model in LatAm (thus offering buyback/simplification options in Brazil), while the price repositioning allowed to stabilize the situation in France".


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