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Bestinver Securities

Start of Coverage: 03-11-2005

Resume of the last report made by this analyst

Using our new estimates and lower multiples render €16.7-€17.7 per share (€16.2-€17.2/sh previously), which offers 22%-30% upside.
We expect JM’s momentum to remain weak at least in 1Q21E, or as long as the pandemic causes noticeable mobility restrictions. However, we like JM’s management quality, the balance sheet strength and the growth potential once the situation normalises. We remain buyers.

Analyst: Patricia Cifuentes

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.