(News Bulletin 247) – Barclays reaffirms its ‘overweight’ recommendation on Carrefour, as well as its price target of 20 euros, the day after the publication of the French retail giant’s annual results.
‘Carrefour has unveiled solid 2022 results and announced a new €800 million share buyback program for this year, bringing the total return of cash to shareholders to around 10% of its market capitalisation’, underlines -he.
In addition, the broker considers that the stock is trading at an excessive discount compared to its peers (9.1 times the EPS expected for 2023, against 11.9 times on average for the sector), given its solid generation of free cash. -flow and its generous cash return policy.
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