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JP Morgan

Start of Coverage: 10-01-2006

Resume of the last report made by this analyst

We lower sales estimates by c5% (fx), EBITDA by c10% (5% underlying on COVID-19 extra costs, 5% fx) and EPS by c15% for FY20-22e. We update our model for IFRS16. Our PT lowers to €18 (from €19.5).

Analyst: Estelle Weingrod

e-mailestelle.weingrod@jpmorgan.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.