Companhia Brasileira de Distribuicao (NYSE: CBD)‘s stock had its “neutral” rating reaffirmed by Zacks in a research note issued on Wednesday. They currently have a $42.00 price target on the stock.
Zacks’ analyst wrote, “Companhia Brasileira de Distribuicao or P o de A car’s first quarter 2012 earnings of 64 Brazilian real cents (36 cents) per share lagged the Zacks Consensus estimate of 41 cents. However, it climbed from year ago results on the back of top line growth and strong margins. In addition, the company opened numerous stores to cater to the consumer needs. We are also encouraged by the company’s acquisitions to increase their market share and its expansion of e-commerce business. The company’s new marketing campaigns by the Viavarejo segment also contributed to the growth. However, high rates of inflation and foreign exchange fluctuation prompt us to rate the stock Neutral.”
Separately, analysts at JPMorgan Chase (NYSE: JPM) upgraded shares of Companhia Brasileira de Distribuicao from an “underweight” rating to a “neutral” rating in a research note to investors on Friday, May 25th.
Shares of Companhia Brasileira de Distribuicao traded down 1.47% during mid-day trading on Wednesday, hitting $39.00. Companhia Brasileira de Distribuicao has a 52 week low of $30.03 and a 52 week high of $54.09. The company has a market cap of $10.142 billion and a P/E ratio of 27.26.
Companhia Brasileira De Distribuicao (CBD) is a Brazil-based food retailer. The Company operates in three segments: retail, cash-and-carry, and electronics and home appliances.
