Casino’s CNova May Add EU10 to Shr Price, Bernstein Says
2014-06-18 07:13:37.8 GMT
By Heather Burke
June 18 (Bloomberg) -- Casino’s CNova online non-food unit
may be worth EU3.7b, Bernstein says; reiterates outperform,
raises PT 15% to EU115 (~22% upside to yday’s close).
* Stock up 28% since Feb. on FX, better emerging mkts, CNova
IPO news; shrs haven’t hit peak: Bernstein
* Sees CNova sales rising to EU5.6b in 2018 from EU2.9b in
2013 from higher market place sales in Brazil, France,
new areas such as Thailand, Colombia
* CNova may add EU10/shr to Casino shr price
* Next catalyst: 2Q sales July 15
* NOTE June 4: MORE: Casino, CBD, Via Varejo, Exito Approve
Terms for Cnova
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To contact the reporter on this story:
Heather Burke in London at +44-20-7673-2044 or
hburke2@bloomberg.net
To contact the editor responsible for this story:
James Ludden at +44-20-7673-2645 or
jludden@bloomberg.net
2014-06-18 07:13:37.8 GMT
By Heather Burke
June 18 (Bloomberg) -- Casino’s CNova online non-food unit
may be worth EU3.7b, Bernstein says; reiterates outperform,
raises PT 15% to EU115 (~22% upside to yday’s close).
* Stock up 28% since Feb. on FX, better emerging mkts, CNova
IPO news; shrs haven’t hit peak: Bernstein
* Sees CNova sales rising to EU5.6b in 2018 from EU2.9b in
2013 from higher market place sales in Brazil, France,
new areas such as Thailand, Colombia
* CNova may add EU10/shr to Casino shr price
* Next catalyst: 2Q sales July 15
* NOTE June 4: MORE: Casino, CBD, Via Varejo, Exito Approve
Terms for Cnova
For Related News and Information:
First Word scrolling panel: FIRST<GO>
First Word newswire: NH BFW<GO>
To contact the reporter on this story:
Heather Burke in London at +44-20-7673-2044 or
hburke2@bloomberg.net
To contact the editor responsible for this story:
James Ludden at +44-20-7673-2645 or
jludden@bloomberg.net