JB Capital

Start of Coverage: 07-06-2018

Resume of the last report made by this analyst

We increase our valuation by 4% to €25.2/share following Biedronka’s stronger-than expected 1Q.
As for other banners, we maintain our valuation broadly unchanged for Ara and Pingo Doce but increase it for Recheio. Overall, we raise our 2023-24e Group EBITDA by 2% and net income by 5%.

Analyst: João Pinto

e-mail: jpinto@jbcm.com

Analyst	Price target	Recommendation	Date
João Pinto	25.20 €	Buy	27 Apr 2023
João Pinto	24.30 €	Buy	24 Mar 2023
João Pinto	25.40 €	Buy	16 Jan 2023
João Pinto	25.20 €	Buy	4 Jan 2023
João Pinto	25.00 €	Buy	28 Oct 2022
João Pinto	23.80 €	Neutral	14 Oct 2022
João Pinto	23.10 €	Neutral	28 Jul 2022
João Pinto	22.00 €	Neutral	4 Jul 2022
João Pinto	22.20 €	Neutral	29 Apr 2022
João Pinto	21.90 €	Neutral	12 Apr 2022
João Pinto	21.00 €	Neutral	11 Mar 2022
João Pinto	22.70 €	Neutral	2 Feb 2022
João Pinto	21.80 €	Neutral	5 Jan 2022
João Pinto	21.60 €	Neutral	5 Nov 2021
João Pinto	21.60 €	Buy	29 Oct 2021
João Pinto	21.20 €	Buy	29 Sep 2021
João Pinto	19.60 €	Buy	9 Jul 2021
João Pinto	19.30 €	Buy	5 Jul 2021
João Pinto	19.10 €	Buy	25 May 2021
João Pinto	17.00 €	Buy	5 Mar 2021
João Pinto	16.90 €	Buy	11 Jan 2021
João Pinto	15.83 €	Neutral	22 Dec 2020
João Pinto	15.90 €	Neutral	14 Dec 2020
João Pinto	16.30 €	Neutral	15 Jul 2020
João Pinto	16.50 €	Neutral	27 Mar 2020
João Pinto	17.00 €	Neutral	5 Feb 2020
João Pinto	16.60 €	Neutral	15 Nov 2019
João Pinto	15.70 €	Buy	24 Jan 2019
João Pinto	16.71 €	Buy	11 Oct 2018
José Soares	16.71 €	Buy	7 Jun 2018

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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.