Ahold Delhaize : Outperform and € 28 target price reiterated after another excellent quarter
>Beating estimates on virtually all lines in Q1 2021 - Apart from free cash flow, which was negatively impacted by a reversal of working capital, Ahold Delhaize beat our expectations and consensus forecasts on all lines. Top-line growth came in stronger than forecast in the US and Europe, and underlying EBIT profitability came in higher than expected in both regions as well. Both regions showed a particularly strong performance from online sales growth, which led to i...Koninklijke Ahold Delhaize is an international group of supermarket and foodservice operators based in Europe and the U.S. Co. operates supermarkets and convenience stores. In addition, Co. provides online food retailing services. Co. also finances, develops and manages store sites and shopping centers. Ahold Europe comprises Albert Heijn in the Netherlands and Belgium; Etos, Gall & Gall, and albert.nl in the Netherlands; and Albert / Hypernova in the Czech Republic and Slovakia. Ahold USA is organized into four retail divisions: Giant Carlisle, Giant Landover, Stop & Shop New England, and Stop & Shop New York Metro. The Peapod online business is also part of Ahold USA.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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