Skip to content
  • Share

Redburn

Start of Coverage: 17-09-2012

Resume of the last report made by this analyst

The possible acquisition of Profi & imminent break-even in Colombia should transform Jeronimo Martins into a truly international discounter – an investable Aldi. Range optimisation and more competitive pricing in Poland means LFL estimates rise 2-3%, EPS rise 6%-14% and we forecast dividends worth 16% of the market cap over 3 years. We upgrade our recommendation from Neutral to Buy and our fair value from €14.2 to €18.

Analyst: James Tracey

e-mailjames.tracey@redburn.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.