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Ipopema

Start of Coverage: 02-07-2019

Resume of the last report made by this analyst

We downgrade our recommendation from BUY to HOLD and decrease our FV from EUR 18.0 to EUR 17.5 per share, which implies 6.2% upside.
Compared to our previous forecasts, we have improved Biedronka’s performance but on the other hand we have also included higher capex related to the higher pace of expansion and remodelling.

Analyst: Krzysztof Kawa

e-mailkrzysztof.kawa@ipopema.pl

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.