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Goldman Sachs

Start of Coverage: 20-12-2007

Resume of the last report made by this analyst

We have updated our Jerónimo estimates and 12m price target to reflect 2Q20 results and recent data from end markets. Our EBIT estimates are -8%/-5% in FY20/21, with EPS -8%/-6%. Our estimate changes are driven by broad downgrades across JMT’s divisions as LFL came in below our expectations across the business.

Analyst: Rob Joyce

e-mailrob.joyce@gs.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.