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HSBC

Start of Coverage: 13-01-2010

Resume of the last report made by this analyst

Retain Hold rating, TP increased to EUR14 from EUR12.5. The Q1 results suggest near-term risks are limited and as such we increase our forecasts 1-3% and reduce our beta to 1 from 1.2 as we see little risk of disruption in the near term given reasonably encouraging market trends in Q1. This drives an increase in our TP to EUR14.

Analyst: Andrew Porteus

e-mail: andrew.porteous@hsbc.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.