'Credit where credit is due': Morgan Stanley restarts Carrefour at 'overweight'

Carrefour SA

22/06/2026 06:53

** Morgan Stanley resumes coverage of Carrefour CARR.PA with an "overweight" rating, saying the market is undervaluing the French retailer's new strategic plan
** "Credit where credit is due... The decisiveness of management's hand and the speed of execution have been impressive," Morgan Stanley says
** It highlights a fresh commercial offensive in France with improving market shares, alongside a refocus on Spain and exits from challenged markets 
** "We think further re-rating in the stock could be unlocked if Carrefour were to enhance the scope of its existing joint ventures in banking," the brokerage adds
** Out of 15 analysts that cover Carrefour, five rate the stock "strong buy" or "buy, "​eight rate "hold" and two rate the stock "strong sell" or "sell" - LSEG data

    
  

 (Reporting by Gianluca Lo Nostro)
 ((gianluca.lonostro@thomsonreuters.com))