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Deutsche Bank

Start of Coverage: 19-12-2016

Resume of the last report made by this analyst

Post Q2 results, we maintain our €16 TP but downgrade our rating from Buy to Hold. We still consider Jeronimo Martins’ positioning as one of the strongest under our coverage, but at €14.8 per share, we believe the risk / reward is now more balanced.

Analyst: Maxime Mallet

e-mailmaxime.mallet@db.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.