Carrefour: Stifel confirms buy rating

(CercleFinance.com) - Stifel maintains its Buy rating on Carrefour shares with an unchanged target price of E18 (cp: E13.
7, flattish), 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 completed by the end of Q2 2025.


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