Jerónimo Martins’ shares were up 5.56% to 15,295 euros today, after the company reported an increase in sales for last year, with special emphasis on operations in Poland and Colombia.
This value reached today represents a maximum since July of last year, making Jerónimo Martins one of the biggest increases of the day among the companies present in the Stoxx 600 index, which gathers the 600 largest quoted companies in Europe.
However, the title lost some strength and now rises only about 2%. Yesterday, after the closing session, the owner of Pingo Doce reported an increase in sales of 3.5% in 2020 to 19.3 billion euros. In a statement sent to the CMVM, the group states that at constant exchange rates, the increase in sales amounted to 6.7%. Comparable sales (LfL) increased 3.5%.
For CaixaBank BPI analysts, the figures revealed were higher than expected, especially in Poland and Colombia “.
In a note, the investment bank notes the 5.1% rise in sales in Biedronka – Poland – compared to the 4.5% estimate. In Colombia, the 6.5% increase was higher than the estimated 5.4%.
This is being a positive week for the Portuguese company, after on Monday thes analysts at JB Capital Markets have increased the recommendation and the assigned target price.
In the note, cited by Bloomberg, the investment bank refers to the national retailer as an “attractive title”, both in Portuguese and Polish operations, which led it to raise the recommendation from “neutral” to “buy”.
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