CaixaBank BPI

Start of Coverage: 14-01-2000

Resume of the last report made by this analyst

YE23 Price Target cut to €21.00 (-3%) to reflect higher capex and bonus payments (-4%) and improved FX (+1%). JM has been outperforming the main indexes over the LTM. Lately, more defensive sectors have been again favoured by investors. We believe JM is a top-notch food retailer but the easing inflation and decline in volumes in Poland against a backdrop of trading down and rising costs are relevant risks. Underperform.

Analyst: José Rito

e-mail: jose.manuel.rito@caixabank.com

Analyst	Price target	Recommendation	Date
José Rito	21.00 €	Underperform	24 Mar 2023
José Rito	21.75 €	Underperform	19 Jan 2023
José Rito	24.00 €	Neutral	5 Jul 2022
José Rito	22.55 €	Neutral	15 Jun 2022
José Rito	21.55 €	Neutral	3 May 2022
José Rito	19.90 €	Neutral	11 Mar 2022
José Rito	22.55 €	Neutral	25 Jan 2022
José Rito	21.60 €	Neutral	29 Oct 2021
José Rito	21.60 €	Buy	29 Jul 2021
José Rito	21.00 €	Buy	5 Jul 2021
José Rito	19.00 €	Buy	30 Apr 2021
José Rito	18.25 €	Buy	31 Mar 2021
José Rito	16.35 €	Neutral	11 Nov 2020
José Rito	16.45 €	Neutral	9 Jul 2020
José Rito	15.90 €	Neutral	15 May 2020
José Rito	16.95 €	Neutral	8 Apr 2020
José Rito	19.10 €	Buy	16 Jan 2020
José Rito	18.65 €	Buy	23 Sep 2019
José Rito	17.55 €	Buy	3 Jun 2019
José Rito	16.50 €	Buy	13 Mar 2019
José Rito	15.75 €	Buy	4 Feb 2019
José Rito	15.85 €	Buy	27 Nov 2018
José Rito	16.90 €	Buy	2 Oct 2018
José Rito	17.10 €	Buy	30 Jul 2018
José Rito	17.30 €	Buy	24 Jul 2018
José Rito	17.70 €	Buy	13 Jun 2018
José Rito	17.20 €	Neutral	6 Mar 2018
José Rito	18.70 €	Neutral	29 Jan 2018
José Rito	18.10 €	Neutral	27 Oct 2017
José Rito	18.80 €	Neutral	14 Jun 2017
José Rito	16.40 €	Neutral	8 Mar 2017
José Rito	17.00 €	Neutral	23 Jan 2017
José Rito	17.60 €	Neutral	24 Oct 2016
José Rito	17.60 €	Buy	10 Oct 2016
José Rito	16.60 €	Buy	6 Sep 2016
José Rito	16.10 €	Buy	5 Apr 2016
José Rito	15.60 €	Buy	2 Mar 2016
José Rito	15.00 €	Buy	20 Jan 2016
José Rito	15.70 €	Buy	24 Nov 2015
José Rito	15.40 €	Buy	8 Sep 2015
José Rito	15.80 €	Buy	30 Jul 2015
José Rito	15.60 €	Buy	29 Jun 2015
José Rito	15.80 €	Buy	28 May 2015
José Rito	12.60 €	Neutral	9 Apr 2015
José Rito	9.20 €	Neutral	19 Jan 2015
José Rito	9.30 €	Neutral	21 Nov 2014
José Rito	8.70 €	Neutral	30 Oct 2014
José Rito	10.30 €	Neutral	30 Sep 2014
José Rito	11.70 €	Neutral	9 Sep 2014
José Rito	13.30 €	Neutral	30 Jul 2014
José Rito	16.05 €	Buy	4 Jul 2014
José Rito	17.00 €	Buy	28 Feb 2014
José Rito	17.70 €	Buy	13 Feb 2014
José Rito	18.70 €	Buy	2 Dec 2013
José Rito	18.40 €	Buy	1 Nov 2013
José Rito	19.80 €	Buy	26 Sep 2013
José Rito	20.25 €	Buy	10 Sep 2013
José Rito	19.00 €	Buy	1 Aug 2013
José Rito	18.65 €	Buy	1 Mar 2013
José Rito	16.30 €	Neutral	30 Nov 2012
José Rito	16.90 €	Buy	8 Oct 2012
José Rito	16.30 €	Buy	27 Jul 2012
José Rito	16.75 €	Neutral	12 Jun 2012
José Rito	16.60 €	Accumulate	27 Apr 2012
José Rito	16.75 €	Accumulate	8 Mar 2012
José Rito	16.50 €	Buy	3 Nov 2011
José Rito	14.00 €	Hold	23 Sep 2011
Eduardo Coelho	14.10 €	Accumulate	17 May 2011
Eduardo Coelho	14.00 €	Buy	24 Jan 2011
Eduardo Coelho	12.90 €	Hold	11 Nov 2010
Eduardo Coelho	9.90 €	Hold	13 Oct 2010
Eduardo Coelho	9.50 €	Hold	20 Sep 2010
Eduardo Coelho	9.30 €	Buy	24 May 2010
Eduardo Coelho	7.00 €	Hold	1 Apr 2010
Eduardo Coelho	6.75 €	Hold	12 Nov 2009
Eduardo Coelho	6.20 €	Accumulate	15 Sep 2009
Eduardo Coelho	5.10 €	Hold	22 Jul 2009
Eduardo Coelho	6.70 €	Buy	13 Nov 2008
Eduardo Coelho	7.30 €	Accumulate	25 Sep 2008
Eduardo Coelho	7.30 €	Buy	31 Jul 2008
Eduardo Coelho	5.90 €	Accumulate	5 Dec 2007
Eduardo Coelho	5.30 €	Accumulate	15 Oct 2007
Eduardo Coelho	4.60 €	Accumulate	26 Jul 2007

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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.