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BofA

Start of Coverage: 04-08-2009

Resume of the last report made by this analyst

We rolled over our price objective, keeping the same methodology. We value Jerónimo Martins at a 20% premium to its peers using a 12 months forward EV/EBITDA multiple. We raise our price objective from €21 to €23.

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.