Bernstein analyst William Woods has reiterated their bullish stance on 0EXG stock, giving a Buy rating today.
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William Woods’s rating is based on the belief that Jeronimo Martins SGPS is poised for a recovery after a challenging 2024. The company faced a difficult year due to a competitive price war and subdued consumer demand. However, Woods anticipates an improvement in 2025 as competitive pressures ease and consumer spending on food increases.
Despite a cautious outlook from the company regarding competition and economic conditions, Woods views Jeronimo Martins as a high-quality business with strong market leadership and a solid cash position. The company’s slightly better-than-expected profitability in FY24, coupled with expectations of revenue growth and effective cost management, supports the Buy rating. Woods also notes that while the first half of the year may be tough, inflation and wage increases in Poland should bolster volumes and topline growth.
According to TipRanks, Woods is a 4-star analyst with an average return of 6.3% and a 56.00% success rate.
In another report released today, Barclays also maintained a Buy rating on the stock with a €22.00 price target.