J.P. Morgan upgrades Casino, Ahold

LONDON (MarketWatch) — J.P. Morgan on Friday raised its rating on Dutch supermarket operator Ahold to overweight from neutral and on French peer Casino to neutral from underweight. J.P. Morgan said casino’s first-half results were generally in line with expectations and that it was surprised by the margin resilience at its Geant brand. On Ahold, the broker said its operating performance has exceeded its expectations and stressed that the weak margin in the second quarter is likely to be a one off. J.P. Morgan added that management’s prioritization of long-term sales outperformance over short-term earnings increases is “commendable” and adds visibility.
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Original post by Forextvblog

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