Cedric Lecasble, an analyst from Stifel Nicolaus, maintained the Buy rating on Carrefour (0NPH – Research Report). The associated price target is €16.50.
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Cedric Lecasble has given his Buy rating due to a combination of factors that suggest potential upside for Carrefour’s stock. Despite a recent earnings miss driven by challenges in European operations outside France, Lecasble notes that Carrefour’s efforts to gain market share in France and Spain through strong price investments could yield positive results in the long term. The company is maintaining its focus on pricing strategies, which are expected to leverage recent market share gains.
Moreover, Carrefour’s management has made strategic decisions to adapt to the current fiscal and competitive landscape. By raising its dividend yield to 8.4% and halting share buybacks in response to new tax implications, the company is demonstrating a commitment to rewarding shareholders while also planning to invest in growth opportunities, such as the potential acquisition of minority interests in Brazil. These factors, combined with a revised price target of €16.5, contribute to Lecasble’s optimistic outlook for the stock.
In another report released on February 11, Kepler Capital also maintained a Buy rating on the stock with a €17.00 price target.