(News Bulletin 247) – The title Carrefour aligns a fourth consecutive session of increase Wednesday at the Paris Stock Exchange, carried by a favorable opinion from analysts at Morgan Stanley.
Around 12:10 p.m., the action of the French retail giant climbed 3%, topping the CAC 40 and SBF 120 indices, bringing its gains over the past week to more than 6%.
The value benefits from a positive recommendation from Morgan Stanley teams, who advise investors to ‘overweight’ it by aiming for a target of 21 euros.
The research department considers that strategic changes are taking place at the distributor, which according to him offers an interesting window of opportunity on the title, especially with a PER of 7.8x , the current valuation does not take into account the potential available to the group, nor the prospect of a rise in share buybacks, he continues.
Morgan Stanley expects Carrefour to redistribute to its shareholders cash representing more than 35% of its market capitalization over the next three years.
He thus made the stock his preferred value (‘top pick’) within the European retail sector.
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