Standpoint Research Starts Delhaize Group (DEG) at Buy; Making The Right Moves
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Price: $28.11 --0%
Rating Summary:
5 Buy, 6 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 10 | Down: 6 | New: 33
Rating Summary:
5 Buy, 6 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 10 | Down: 6 | New: 33
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Standpoint Research initiates coverage on Delhaize Group (NYSE: DEG) with a Buy. PT $65.00.
Analyst, Ronni e Moas, said, "Delhaize is a supermarket chain with market capitalization of $5.2 bln, based in Belgium. Two-thirds of their revenues are coming from their supermarket and grocery stores here in the US. Those ~1900 stores (out of ~2800 worldwide) are all in the NE and SE United States. Three-quarters of the US stores are under the Food Lion name. Approximately half of the remaining ~900 stores are in Belgium and the others are spread out across Albania, Bosnia & Herzegovina, Bulgaria, Greece, Montenegro, Romania, Serbia and Indonesia. The company is remodeling, reinvesting, expanding and cutting costs. Plans are in place to cut under-performing stores in the US while adding aggressively outside the US and Belgium. The net store count should jump by at least a few hundred by the end of 2014 and we expect shares to rebound by ~30% between now and the end of next year as these plans are executed."
For an analyst ratings summary and ratings history on Delhaize Group click here. For more ratings news on Delhaize Group click here.
Shares of Delhaize Group closed at $54.21 yesterday.
Analyst, Ronni e Moas, said, "Delhaize is a supermarket chain with market capitalization of $5.2 bln, based in Belgium. Two-thirds of their revenues are coming from their supermarket and grocery stores here in the US. Those ~1900 stores (out of ~2800 worldwide) are all in the NE and SE United States. Three-quarters of the US stores are under the Food Lion name. Approximately half of the remaining ~900 stores are in Belgium and the others are spread out across Albania, Bosnia & Herzegovina, Bulgaria, Greece, Montenegro, Romania, Serbia and Indonesia. The company is remodeling, reinvesting, expanding and cutting costs. Plans are in place to cut under-performing stores in the US while adding aggressively outside the US and Belgium. The net store count should jump by at least a few hundred by the end of 2014 and we expect shares to rebound by ~30% between now and the end of next year as these plans are executed."
For an analyst ratings summary and ratings history on Delhaize Group click here. For more ratings news on Delhaize Group click here.
Shares of Delhaize Group closed at $54.21 yesterday.
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