Carrefour : Stifel lowers its earnings forecasts
The broker considers the slowdown in inflation in Europe to be "manageable", but believes that Brazil - the Group's second biggest market, which is deteriorating more than previously estimated - makes it difficult to meet targets for 2023.
While maintaining its 'buy' recommendation on Carrefour, Stifel has lowered its price target from 23 to 20 euros, following a reduction of around 5% in its EPS estimates for the food retail group.
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