Since mid-May, Ceconomy’s common stock has risen 32 percent. The SDAX has gained 15 percent during this time. Previously, the stock had underperformed the SDAX, so there could be some catching up to do. In addition, almost all shops have reopened since mid-May.
Major shareholder Haniel wants to exert more influence at Ceconomy in the future. You see a need for action, how to communicate to the media. The online business is therefore too small, the dependency on the stationary business is too large.
Independent Research analysts also believe that some deficiencies need to be addressed at Ceconomy. Haniel’s initiative could be helpful.
For the 2019/2020 financial year, the experts expect earnings per share of EUR 0.08 (old: EUR -0.13). For the 2020/2021 financial year, they expect EUR 0.46 (old: EUR 0.43).
As before, the analysts issued a recommendation to hold Ceconomy’s paper. The target price is raised from EUR 2.10 to EUR 3.40.
Ceconomy’s shares today lose 1.8 percent to € 3,152.