JPMorgan analyst Funeka Maseko downgraded Shoprite to Underweight from Neutral with a price target of ZAR 203, down from ZAR 213. The analyst believes the company’s costs related to South Africa’s power crisis are not fully appreciated by the market.
Don’t Miss TipRanks’ Half-Year Sale
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
- Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
Published first on TheFly