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Exane BNP Paribas

Start of Coverage: 11-11-2004

Resume of the last report made by this analyst

We upgrade Jeronimo Martins to Outperform as we view the weaker share price as a buying opportunity considering the remaining growth potential of Biedronka and the capacity of Ara to contribute to growth in the future.

Analyst: Andrew Gwynn

e-mailandrew.gwynn@exanebnpparibas.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.