Jeronimo Martins: Invest Securities trims target price
(CercleFinance.com) - On Thursday Invest Securities trimmed its target price on the Jeronimo Martins stock from 14.
5 euros to 14.3 euros.
The analyst in charge of the stock continues to recommend investors to sell it, which is even though in its sector there is no real alternative for reclassification or arbitrage, insofar as the group dominates the listed segment of soft discounters, against the repeated underperformance posted by Colruyt and Dia; in the analyst's opinion, this "underlines a problem of declining maturity".
Invest Securities adds that although in its sector Jeronimo Martins maintains a special status of best-in-class, due to its operating profitability and return on capital invested, its appreciation in the stockmarket has exploded valuation criteria of a sector that has depreciated sharply, which leaves little room for leeway.
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