'Too cheap to ignore' - Carrefour rises as UBS ups to 'buy'

Carrefour SA

02/07/2026 10:27

** Shares in Carrefour CARR.PA rise 4.5% after UBS upgrades the French food retailer to "buy" from "neutral," saying the stock is now "too cheap to ignore"
** "We see Carrefour as an overlooked value play with attractive upside potential, underpinned by a credible 2030 strategy focused on price competitiveness and market share gains," UBS says
** It raises Carrefour's PT by 46% to €19 
** "In our view, the market continues to discount a more conservative outcome than management's long-term ambitions," the broker adds
** Carrefour, up 15.4% YTD, leads gains on France's CAC 40 .FCHI index, which rises 0.7%
     
($1 = 0.8760 euros)

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