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BofA

Start of Coverage: 04-08-2009

Resume of the last report made by this analyst

We expect profit growth to resume as soon as consumers will get back to more normal lives while the recession may dent their purchasing power, favouring discounters such as JM, in our view. We retain our Buy.

Analyst: Xavier Le Mené

e-mailxavier.le_mene@bofa.com

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.