Still a safe haven
As part of a wider Food retail sector report dedicated to the food disinflation impacts on profitability (link here), we reiterate our Buy on Ahold Delhaize to play clearer profitability prospects and ongoing market rotation pushing for a deserved rerating.
Since 1996, Bryan, Garnier & Co has been growing with an absolute conviction that the investment banking landscape would experience a major revolution: most of the large local generalist banking groups will disappear to the benefit of a handful of global powerhouses, and an emerging group of independent, highly specialised boutique investment banks.
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