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Start of Coverage: 02-07-2019

Resume of the last report made by this analyst

We initiate coverage of Jeronimo Martins with a Buy rating and FV of EUR 16.61. Jeronimo Martins’ performance has been outstanding, with the stock gaining 41.1% since the start of 2019, beating the PSI 20 index which has risen only 9.4% YTD. The uptick was driven primarily by strong macro fundamentals in Poland, which continue to support Polish consumers, as well as solid results in Portugal for FY 2018.

Analyst: Krzysztof Kawa

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.