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Carrefour, the biggest rise in the CAC 40 at mid-session on Monday January 16, 2023 –

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Carrefour, the biggest rise in the CAC 40 at mid-session on Monday January 16, 2023 -

(AOF) – Crossroads (+4.17.81% to 17.25 euros)

The positive distributor today with an increase of more than 4% after three consecutive sessions in slight decline. In a note dated Friday, UBS expects the group to publish solid sales on February 14, largely thanks to the acceleration of inflation in Europe, including in France, although the volume performance likely eroded sequentially with higher inflation.

Thanks to strong cost discipline in France, the analyst forecasts stable margins in the second half, in a context of sustained pressure on margins in Europe. UBS expects a group EBIT of 2.36 billion euros for the 2022 financial year. Carrefour should finalize at the end of the first half of 2023 the sale of its Taiwanese subsidiary announced in July 2022, a transaction which will result in an influx of cash of 1 billion euros, which could be used to remunerate shareholders. UBS remains neutral with an unchanged target price of 17.5 euros.

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