Start of Coverage: 04-08-2009
Our price objective of EUR10.7 is derived from a DCF valuation (WACC of 7.5%). We use a terminal growth rate of 1.5%. We forecast EBITDA margin stabilising at 5.4% and capex to sales at 3.0% in the long term.
Analyst: Xavier Le Mené
e-mail: xavier.le_mene@bofa.com
| Analyst | Price target | Recommendation | Date |
| Xavier Le Mené | 10.70 € | Underperform | 6 Jan 2020 |
| Xavier Le Mené | 9.50 € | Underperform | 9 Oct 2019 |
| Kiranjot Grewal | 9.50 € | Underperform | 2 Nov 2018 |
| Kiranjot Grewal | 13.50 € | Underperform | 12 Mar 2018 |
| Kiranjot Grewal | 13.00 € | Underperform | 21 Apr 2016 |
| Kiranjot Grewal | 13.50 € | Neutral | 3 Mar 2016 |
| Kiranjot Grewal | 13.00 € | Neutral | 8 Sep 2015 |
| Xavier Le Mené | 10.00 € | Underperform | 17 Apr 2015 |
| Sherri Malek | 9.00 € | Underperform | 24 Feb 2015 |
| Sherri Malek | 7.00 € | Underperform | 30 Oct 2014 |
| Sherri Malek | 7.50 € | Underperform | 22 Oct 2014 |
| Sherri Malek | 10.00 € | Underperform | 30 Jul 2014 |
| Sherri Malek | 11.00 € | Underperform | 14 Apr 2014 |
| Sherri Malek | 11.50 € | Underperform | 26 Feb 2014 |
| Sherri Malek | 13.00 € | Underperform | 10 Oct 2013 |
| Sherri Malek | 14.30 € | Underperform | 12 Aug 2013 |
| Sherri Malek | 14.80 € | Underperform | 29 Jul 2013 |
| Sherri Malek | 15.20 € | Underperform | 28 May 2013 |
| Sherri Malek | 14.20 € | Underperform | 10 Jan 2013 |
| Andrew Gwynn | 15.70 € | Buy | 29 Feb 2012 |
| Andrew Gwynn | 14.60 € | Buy | 3 Jan 2012 |
| Andrew Gwynn | 14.90 € | Buy | 27 Oct 2011 |
| Andrew Gwynn | 15.20 € | Buy | 14 Oct 2011 |
| Andrew Gwynn | 15.30 € | Buy | 27 Jul 2011 |
| Andrew Gwynn | 14.90 € | Buy | 6 Jun 2011 |
| Andrew Gwynn | 13.10 € | Buy | 4 May 2011 |
| Andrew Gwynn | 12.90 € | Buy | 3 May 2011 |
| Andrew Gwynn | 11.10 € | Underperform | 12 Jan 2011 |
| Andrew Gwynn | 10.60 € | Underperform | 29 Oct 2010 |
| Andrew Gwynn | 8.50 € | Underperform | 19 Oct 2010 |
| Andrew Gwynn | 8.05 € | Underperform | 28 Jul 2010 |
| Andrew Gwynn | 7.80 € | Underperform | 2 Jul 2010 |
| Andrew Gwynn | 7.95 € | Neutral | 29 Apr 2010 |
| Andrew Gwynn | 7.45 € | Underperform | 15 Jan 2010 |
| Andrew Gwynn | 7.55 € | Neutral | 5 Jan 2010 |
| Andrew Gwynn | 6.90 € | Neutral | 11 Nov 2009 |
| Andrew Gwynn | 6.70 € | Neutral | 29 Oct 2009 |
| Andrew Gwynn | 6.60 € | Neutral | 23 Sep 2009 |
| Andrew Gwynn | 6.10 € | Buy | 4 Aug 2009 |
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.
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