(Boursier.com) — In last position in the CAC40, Crossroads fell by 4.2% to 16 euros. The selling pressure on the distributor is linked to a note from JP Morgan which downgraded the file to ‘underweight’ while reducing its target from 19 to 15 euros. “We would sell the rebound in food retailing, which we think is rather technical and not necessarily driven by an improvement in fundamentals,” says the bank, which also downgrades Ahold-Delhaize. It highlights the risk of deflation in food prices and a ‘reset’ of margins. JPM places Carrefour on “Negative Catalyst Watch” ahead of first half 2024 results.
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