Equita cuts Italy's Marr to 'hold' on a 2025 'more difficult than expected'

Marr SpA

17/11/2025 10:59

** Equita cuts Italy's Marr MARR.MI to "hold" from "buy" on a "more difficult than expected" 2025 for the foodservice distributor

** Shares fall as much as 2.9%

** Marr's margins were impacted by weaker consumption, and a "still rather competitive" context, it says

** It adds that Marr also faced headwinds from a "not yet fully operational" offer segmentation, delays in the transfer of logistics to its new platform, and internalisation of handling activities

** "These actions will continue to impact for a few quarters, while the related benefits remain to be seen" - Equita

** Cuts the TP by 15% to 10.4 euros ($12.07)

** Up to the previous session's close, shares were down 11%​ YTD

** Out of 6 analysts covering Marr, four rate it "strong buy" or "buy," ​two "hold" - LSEG data

($1 = 0.8619 euros)

 (Reporting by Philippe Leroy Beaulieu in Gdansk)

 ((Philippe.leroybeaulieu@thomsonreuters.com))