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Wood & Co.

Start of Coverage: 02-02-2011

Resume of the last report made by this analyst

We are upgrading our rating on Jeronimo Martins (JMT) to BUY, from Hold, with a new PT of EUR 23.7/share (vs. EUR 21.8 previously). In line with our expectations, the stock has provided a perfect inflation shelter over the last year. At this juncture, we believe it can step up even further.

Analyst: Lukasz Wachelko


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