JPM cuts Colruyt as new guidance leaves it 'somewhat cold'

Colruyt NV

26/09/2025 07:54

** J.P. Morgan downgrades Colruyt COLR.BR to "underweight" from "overweight", saying the Belgian retailer's updated guidance leaves it feeling "somewhat cold"

** JPM models 2025 EBIT and net profit decline of 10% and 7% respectively, in contrast to the management's expectations of stable results

** It also cites Colruyt's "mixed track record", along with increased competition and unsupportive macroeconomic indicators as challenging

** JPM slashes its PT by around 30% to EUR 28.6, an 18% downside to Thursday's closing price

** Colruyt shares lost close to 7% on Thursday following the profit warning, bringing their YTD performance to -4.75%, marking a further decline to 11.2% losses incurred over 2024

** Out of 9 analysts covering Colruyt, three rate it "strong buy"/"buy", ​four rate it "hold" and two​ "strong sell"/"sell"

(Reporting by Jakob Van Calster)

((jakob.vancalster@thomsonreuters.com;))