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Jefferies International

Start of Coverage: 02-12-2010

Resume of the last report made by this analyst

Valuation/forecast momentum balance suggests neutrality is still advisable. Forecasts/PT slightly up due to Zloty strength are pre retail tax impacts.

Analyst: James Grzinic

e-mailjgrzinic@Jefferies.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.