Ahold Delhaize: Oddo sticks to 'Buy', adjusts target

(CercleFinance.com) - Oddo reiterates its 'Buy' recommendation on Ahold Delhaize and adjusts its target price from 21 to 22 euros the day after the group posted good results for the first quarter.
It refers to the share as its “favourite in the food distribution sector”.

The analyst firm highlights a crucial upside in the current context of a sector with weak volumes, fierce competition, and pressure from e-commerce, which is the growth of synergies related to the merger, allowing it to maintain a satisfactory profit dynamic.

Oddo also points to “a still attractive valuation” for the Dutch-Belgian group with a discount of -5.5% compared to the weighted average of trading multiples for American and European peers.

Copyright (c) 2018 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.