Ahold Delhaize Seen Hit by Challenging U.S. Environment
Dow Jones
Yesterday
0921 GMT - Ahold Delhaize is expected to miss consensus estimates for a key metric in the third quarter due to a more competitive U.S. landscape, UBS analysts Sreedhar Mahamkali and Angelo Mangieri write. They expect the Dutch multinational grocery-retail company to report third-quarter earnings before interest and taxes of 890 million euros, around 4% below consensus, but back its full-year guidance. UBS cuts its EBIT margin forecasts for the next three years and target price to reflect the challenging U.S. environment. UBS lowers its target price on the stock to 33.00 euros from 37.00 euros and keeps its neutral rating. Shares are up 0.2% at 31.62 euros, but 9.3% lower over the year-to-date.
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