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Erste Group

Start of Coverage: 14-10-2011

Resume of the last report made by this analyst

Jeronimo Martins should benefit from fiscal stimulus as well (our EBITDA estimates in 2019/20 higher by 4%/5% vs consensus), being focused on enhancing the quality of its network rather than dynamic expansion in Poland. Having in mind cautious approach towards reaching BEP by new ventures, we recommend Jeronimo Martins as Accumulate with target price of EUR 15.6.

Analyst: Konrad Grygo

e-mail: konrad.grygo@erstegroup.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.