Colruyt shares rise as ING upgrades stock to 'buy'

Colruyt NV

29/10/2024 10:35

** Shares of Colruyt  COLR.BR  jump 6.7% to EUR 42.32 per
share after ING upgrades its rating for the Belgian supermarket
chain to "buy" from "hold" and raises its PT by 44% to EUR 52
    ** "We believe Colruyt's current discount to peers is
unwarranted, especially given its healthy balance sheet and
potential superior EBIT growth thanks to a rebound in
profitability for its Retail division," ING writes
    ** If the gains hold, Colruyt's shares will see their
biggest daily rise since September 2023
    ** Up to last session's close, they were down 2.8% YTD

 (Reporting by Leo Marchandon)
 ((Leo.marchandon@thomsonreuters.com))