CASINO GUICHARD: Feedback from analysts meeting | BUY | EUR48 vs. EUR45
CASINO GUICHARD - BUY | EUR48 vs. EUR45 (+17%)Feedback from analysts meeting
Towards a 3.7% underlying EBIT margin in France by 2021
France free cash-flow to cover just dividends & financial costs…
…while disposals will be key to further deleverage in 2019-2020
Rallye’s issues remain but a positive surprise could occur in 2019
Casino Guichard-Perrachon is a food retailer based in France. Co. operates hypermarkets, supermarkets, discount stores, convenience stores and cafeterias. Co.'s stores are discount stores selling groceries and consumer goods, and providing services like financial and insurance services, real estate, and restaurants. Co. operates hypermarkets under the brand Geant Casino; urban and rural supermarkets under the brand Casino Supermarches; city-centre supermarkets under the brand Monoprix; convenience/national superettes under the brands Petit Casino, Vival and Spar; covenience-paris area stores under the brand Marche Franprix; and discount stores under the brand Leader Price.
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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