Kepler ups Jeronimo Martins to 'buy' on better risk/reward balance

Jeronimo Martins SGPS SA

08/07/2026 10:02

** Kepler Cheuvreux upgrades Jeronimo Martins JMT.LS to "buy" from "hold" as the Portuguese food retailer's risk/reward balance appears more appealing after a 25% share price correction since Q1 numbers
** Broker says share price weakness implies the company trades below both historical multiples and its peers, close to the last four years' historical lows
** It "opens a good buying opportunity", broker says, while adopting a more cautious stance towards Poland LFL and margins and increasing Colombia because of FX, especially in 2026
** Out of 24 analysts that cover Jeronimo Martins, 17 rate the stock "strong buy" or "buy", ​six rate it "hold" and one rates it "sell" - data compiled by LSEG 

 (Reporting by Tiago Brandao)
 ((Tiago.Brandao@thomsonreuters.com;))