Jeronimo Martins jumps after Q3 EBITDA beat, "better-than feared" margin

Jeronimo Martins SGPS SA

31/10/2024 08:57

** Jeronimo Martins  JMT.LS  shares rise 8% after Q3 EBITDA
beat, better-than-expected margin 
    ** The Portuguese retailer posted Q3 EBITDA of 593 mln
euros, net profit of 187 mln euros, above the average of 572 mln
euros and 166 mln euros expected by analysts, respectively
    ** Jefferies says that Q3 EBITDA beat stems from a broadly
in-line Biedronka LFL but "a better-than-feared margin"
    ** The brokerage expects this beat to be well-received
    ** The stock remains cheap, but above recent lows, it adds
    ** " 3Q will prove the share price trough, given its
appealing valuation combined with investor low positioning, at a
time when current market expectations are proving more 
realistic" J.P. Morgan says 
    ** Stock is the best performer on the Portuguese blue-chip
index  .PSI 
    
    
    

 (Reporting by Joanna Jonczyk-Gwizdala)
 ((joanna.jonczyk@tr.com))