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Pekao Investment Banking

Start of Coverage: 11-06-2019

Resume of the last report made by this analyst

We reiterate our Buy recommendation on Jeronimo Martins, having slightly increased our 12M target price by 5% to EUR 17.30 (sound prospective 19% potential upside). The upward revision is primarily related to the better than the previously assumed LFL sales performance of Biedronka stores in Poland, more than offsetting the slight reduction of short-term expectations for Colombia.

Analyst: Maria Mickiewicz

e-mail: maria.mickiewicz@pekaoib.pl

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.