Jefferies downgrades Carrefour on ailing core markets

Carrefour SA

30/01/2026 08:48

** Jefferies cuts supermarket chain Carrefour CARR.PA to "hold" from "buy", stating the market now appears to have well-priced the company's "Corefour 2030" strategic re-focus

** The broker says its concern is less about the strategic review's success and more that the core business is "not firing on all cylinders", citing weak health in the French and Brazilian markets

** As an example, it notes the stocks recent 20% re-rating was driven by asset disposals rather than strengthening foundations

** Jefferies sticks to a PT of EUR 14/shr on Carrefour, assuming a 7.2x Price-to-Earnings ratio to the remaining business

** Out of 16 analysts that cover Carrefour six rate the stock "strong buy" or "buy," ​seven rate it "hold," and three rate the company "strong sell" or "sell" - LSEG data

 (Reporting by Jakob Van Calster)

 ((jakob.vancalster@thomsonreuters.com))