Start of Coverage: 10-01-2006
JMT (OW): We increase Biedronka LFLs to 6.2% in 4Q (vs. 4.7% before). We increase EBITDA estimates by 3% (higher margins at Pingo Doce, FX, Hebe) and EPS by c4%. Regardless, we sit LSD below consensus in 20/21, driven by a more conservative approach on the Colombia loss profile. We roll forward our Price Target to Dec’20, which now stands at €19.5 (€19).
Analyst: Estelle Weingrod
e-mail: estelle.weingrod@jpmorgan.com
| Analyst | Price target | Recommendation | Date |
| Estelle Weingrod | 19.50 € | Overweight | 14 Jan 2020 |
| Borja Olcese | 19.00 € | Overweight | 12 Jul 2019 |
| Borja Olcese | 18.50 € | Overweight | 16 May 2019 |
| Estelle Weingrod | 18.50 € | Overweight | 27 Jul 2018 |
| Estelle Weingrod | 19.50 € | Overweight | 25 Jul 2018 |
| Estelle Weingrod | 21.00 € | Overweight | 4 Jan 2018 |
| Estelle Weingrod | 19.50 € | Overweight | 29 Jun 2017 |
| Estelle Weingrod | 18.00 € | Overweight | 15 Feb 2017 |
| Estelle Weingrod | 17.50 € | Overweight | 6 Oct 2016 |
| Estelle Weingrod | 16.50 € | Overweight | 28 Apr 2016 |
| Borja Olcese | 15.00 € | Overweight | 30 Jul 2015 |
| Borja Olcese | 13.40 € | Overweight | 14 Apr 2015 |
| Jaime Vasquez | 10.00 € | Overweight | 14 Jan 2015 |
| Jaime Vasquez | 8.30 € | Neutral | 17 Nov 2014 |
| Jaime Vasquez | 7.70 € | Neutral | 30 Oct 2014 |
| Jaime Vasquez | 8.50 € | Neutral | 6 Oct 2014 |
| Jaime Vasquez | 11.00 € | Neutral | 29 Jul 2014 |
| Jaime Vasquez | 12.00 € | Neutral | 26 Feb 2014 |
| Jaime Vasquez | 15.00 € | Neutral | 14 Jan 2014 |
| Jaime Vasquez | 16.00 € | Overweight | 1 Nov 2013 |
| Jaime Vasquez | 18.00 € | Overweight | 1 Oct 2013 |
| Jaime Vasquez | 19.00 € | Overweight | 31 Jul 2013 |
| Jaime Vasquez | 20.00 € | Overweight | 24 Apr 2013 |
| Jaime Vasquez | 18.00 € | Overweight | 18 Feb 2013 |
| Jaime Vasquez | 14.93 € | Overweight | 12 Oct 2011 |
| Jaime Vasquez | 13.60 € | Neutral | 12 Aug 2011 |
| Paul Diamond | 12.18 € | Underweight | 19 Jul 2011 |
| Paul Diamond | 8.71 € | Underweight | 1 Dec 2010 |
| Rickin Thakrar | 7.80 € | Overweight | 18 Jan 2010 |
| Rickin Thakrar | 7.40 € | Overweight | 1 Dec 2009 |
| Rickin Thakrar | 7.00 € | Overweight | 27 Oct 2009 |
| Alastair Johnston | 5.50 € | Overweight | 7 May 2009 |
| Alastair Johnston | 4.70 € | Overweight | 18 Feb 2009 |
| Alastair Johnston | 5.80 € | Overweight | 15 Dec 2008 |
| Alastair Johnston | 7.40 € | Overweight | 29 Aug 2008 |
| Alastair Johnston | 7.70 € | Overweight | 8 Aug 2008 |
| Alastair Johnston | 7.00 € | Overweight | 1 Aug 2008 |
| Alastair Johnston | 5.20 € | Overweight | 7 Sep 2007 |
| Alastair Johnston | 5.00 € | Overweight | 27 Jul 2007 |
| Alastair Johnston | 4.80 € | Overweight | 1 Jun 2007 |
| Alastair Johnston | 3.43 € | Overweight | 8 Nov 2006 |
| Alastair Johnston | 3.30 € | Overweight | 20 Oct 2006 |
| Alastair Johnston | 3.10 € | Overweight | 4 May 2006 |
| Alastair Johnston | 2.78 € | Overweight | 16 Jan 2006 |
| Alastair Johnston | 2.60 € | Overweight | 10 Jan 2006 |
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.
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