Carrefour : Stifel confirms its recommendation

(CercleFinance.com) - Stifel maintains its Buy rating on Carrefour shares with an unchanged target price of 18 euros, after the retailer announced an offer to buy back all outstanding shares (around 32.
6%) in its listed Brazilian subsidiary.

Stifel reports that Peninsula (Carrefour Brazil's second largest shareholder with a stake of around 7.3%) fully supported the transaction and chose the all-share option.

Peninsula's leading stake in Carrefour (around 9%) will increase to around 10.0%-10.7% after the transaction.

The transaction could be finalized before the end of the second quarter of 2025.

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