Bernstein

Start of Coverage: 18-09-2019

Resume of the last report made by this analyst

We update our model for the latest results and adjust store opening phasing based on current progress. We increase our LFL expectations in Poland to reflect the strong trading and volume performance. For FY23, this has +2.8% impact on revenue and 5.6% on EPS.

Analyst: William Woods

e-mail: william.woods@bernstein.com

Analyst	Price target	Recommendation	Date
William Woods	23.00 €	Market Perform	27 Apr 2023
William Woods	22.00 €	Market Perform	5 Apr 2023
William Woods	24.00 €	Outperform	28 Oct 2022
William Woods	22.00 €	Outperform	18 Oct 2022
William Woods	25.00 €	Outperform	29 Jul 2022
William Woods	24.00 €	Outperform	28 Jun 2022
William Woods	23.00 €	Outperform	15 Mar 2022
William Woods	23.00 €	Outperform	11 Jan 2022
William Woods	19.50 €	Market Perform	3 Nov 2021
William Woods	17.00 €	Market Perform	7 Jul 2021
Bruno Monteyne	12.50 €	Underperform	18 Sep 2019

Reference History

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The information presented refers to recommendations issued by analysts that follow the Jerónimo Martins’ share. For more information, please read the Analysts Coverage section in this website’s Terms and Conditions.