Start of Coverage: 14-05-2003
Our Price Target is based on SOTP. We value Poland and Portuguese operations using EV/EBIT multiples. Higher multiple for Polish operations reflect its growth and cash flow potential.
Increase in our PR from €17 to €19.5 is driven by higher explicit EBIT forecasts and increase of EV/EBIT multiple for Poland from 15x to 15.5x on the back of higher sales growth outlook.
Analyst: Michal Potyra
e-mail: michal.potyra@ubs.com
| Analyst | Price target | Recommendation | Date | |
| Michal Potyra | 19.50 € | BUY | 14-Jul-17 | |
| Michal Potyra | 17.00 € | BUY | 22-Nov-16 | |
| Michal Potyra | 16.00 € | BUY | 18-May-16 | |
| Michal Potyra | 13.00 € | NEUTRAL | 6-Nov-15 | |
| Michal Potyra | 12.00 € | NEUTRAL | 10-Apr-15 | |
| Potyra, Michal | 9.00 € | NEUTRAL | 9-Dec-14 | |
| Michal Potyra | 15.30 € | BUY | 4-Jul-14 | |
| Michal Potyra | 16.30 € | BUY | 17-Jan-14 | |
| Michal Potyra | 19.00 € | BUY | 12-Jul-13 | |
| Michal Potyra | 16.50 € | NEUTRAL | 11-Apr-13 | |
| Ignacio Carvajal | 11.40 € | NEUTRAL | 26-Oct-12 | |
| Ignacio Carvajal | 11.50 € | NEUTRAL | 26-Jul-12 | |
| Ignacio Carvajal | 13.10 € | NEUTRAL | 25-Apr-12 | |
| Ignacio Carvajal | 12.90 € | NEUTRAL | 16-Jan-12 | |
| Ignacio Carvajal | 13.50 € | NEUTRAL | 7-Nov-11 | |
| Ignacio Carvajal | 11.90 € | SELL | 28-Oct-11 | |
| Ignacio Carvajal | 9.80 € | SELL | 19-Feb-11 | |
| Ignacio Carvajal | 9.30 € | SELL | 11-Oct-10 | |
| Ignacio Carvajal | 8.60 € | NEUTRAL | 29-Jul-10 | |
| Ignacio Carvajal | 7.50 € | NEUTRAL | 19-Mar-10 | |
| Ignacio Carvajal | 7.20 € | NEUTRAL | 10-Mar-10 | |
| Ignacio Carvajal | 6.40 € | NEUTRAL | 9-Feb-10 | |
| Ignacio Carvajal | 6.70 € | NEUTRAL | 25-Jan-10 | |
| Ignacio Carvajal | 6.60 € | NEUTRAL | 18-Dec-09 | |
| Ignacio Carvajal | 6.30 € | NEUTRAL | 20-Oct-09 | |
| Ignacio Carvajal | 5.90 € | BUY | 2-Sep-09 | |
| Ignacio Carvajal | 5.40 € | BUY | 30-Jun-09 | |
| Ignacio Carvajal | 5.60 € | BUY | 18-Jun-09 | |
| Pedro Baptista | 4.70 € | BUY | 14-Nov-08 | |
| Pedro Baptista | 6.00 € | NEUTRAL | 1-Aug-08 | |
| Pedro Baptista | 5.60 € | NEUTRAL | 14-Dec-07 | |
| Pedro Baptista | 5.40 € | BUY | 19-Oct-07 | |
| Pedro Baptista | 4.50 € | NEUTRAL | 30-May-07 | |
| Pedro Baptista | 4.10 € | NEUTRAL | 24-Jan-07 | |
| Pedro Baptista | 3.70 € | BUY | 22-Nov-06 | |
| Pedro Baptista | 3.40 € | BUY | 8-Apr-06 | |
| Pedro Baptista | 3.20 € | BUY | 22-Feb-06 | |
| Pedro Baptista | 3.06 € | BUY | 11-Nov-05 | |
| Pedro Baptista | 2.80 € | BUY | 6-Apr-05 | |
| Pedro Baptista | 2.64 € | BUY | 22-Mar-05 | |
| Frederico Ataide | 2.50 € | BUY | 16-Feb-05 | |
| Frederico Ataide | 2.28 € | BUY | 2-Jul-04 | |
| Frederico Ataide | 2.08 € | BUY | 11-Jun-04 | |
| Frederico Ataide | 2.36 € | BUY | 9-Jun-04 | |
| Frederico Ataide | 2.08 € | BUY | 18-Nov-03 | |
| Frederico Ataide | 1.33 € | NEUTRAL | 14-May-03 |
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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