A number of firms have modified their ratings and price targets on shares of Companhia Brasileira de Distribuicao (NYSE: CBD) recently:

  • 9/26/2017 – Companhia Brasileira de Distribuicao was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $28.00 price target on the stock. According to Zacks, “Shares of Companhia Brasileira have outperformed the industry over the last six months. The company has been depicting strong improvement in its higher-return format stores such as Assai and Multivarejo. Store openings and conversion of Extra Hiper stores to Assai has been boosting sales and aiding the company to accelerate the expansion of its cash-and-carry banner into new cities and states across Brazil. By the end of 2017, the company expects to complete 16 store conversions and open six to eight new Assai stores. We are also encouraged by the company’s operating efficiency and productivity projects. In the second quarter, higher gross margins and a decline in selling, general and administrative expenses at Multivarejo boosted EBITDA margin. However a challenging economic scenario in Brazil has led to lower demand and consumer confidence, thereby posing concerns for the company, especially in the home appliances category.”
  • 9/25/2017 – Companhia Brasileira de Distribuicao was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Shares of CBD have outperformed the industry over the last six months. The company has been depicting strong improvement in Extra Hiper markets and consistent growth at Assai. Store openings and conversion of Extra Hiper stores to Assai has been boosting sales and aiding the company to accelerate the expansion of its cash-and-carry banner into new cities and states across Brazil. By the end of 2017, the company expects to complete 16 store conversions and open six to eight new Assai stores. We are also encouraged by the company’s operating efficiency and productivity projects. In the second quarter, higher gross margins and a decline in selling, general and administrative expenses at Multivarejo boosted EBITDA margin. However, a challenging economic scenario in Brazil results in lower demand and consumer confidence. A slowdown in consumer expenditure has also been affecting the home appliances retail sector.”
  • 9/19/2017 – Companhia Brasileira de Distribuicao was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $28.00 price target on the stock. According to Zacks, “Shares of CBD have outperformed the industry over the last six months. The company has been depicting strong improvement in Extra Hiper markets and consistent growth at Assai. Store openings and conversion of Extra Hiper stores to Assai has been boosting sales and aiding the company to accelerate the expansion of its cash-and-carry banner into new cities and states across Brazil. By the end of 2017, the company expects to complete 16 store conversions and open six to eight new Assai stores. We are also encouraged by the company’s operating efficiency and productivity projects. In the second quarter, higher gross margins and a decline in selling, general and administrative expenses at Multivarejo boosted EBITDA margin. However, a challenging economic scenario in Brazil results in lower demand and consumer confidence. A slowdown in consumer expenditure has also been affecting the home appliances retail sector.”
  • 9/18/2017 – Companhia Brasileira de Distribuicao was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Shares of CBD have outperformed the industry over the last six months. The company has been depicting strong improvement in Extra Hiper markets and consistent growth at Assai. Store openings and conversion of Extra Hiper stores to Assai has been boosting sales and aiding the company to accelerate the expansion of its cash-and-carry banner into new cities and states across Brazil. By the end of 2017, the company expects to complete 16 store conversions and open six to eight new Assai stores. We are also encouraged by the company’s operating efficiency and productivity projects. In the second quarter, higher gross margins and a decline in selling, general and administrative expenses at Multivarejo boosted EBITDA margin. However, a challenging economic scenario in Brazil results in lower demand and consumer confidence. A slowdown in consumer expenditure has also been affecting the home appliances retail sector.”
  • 9/11/2017 – Companhia Brasileira de Distribuicao was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Shares of CBD have outperformed the industry over the last six months. The company has been depicting strong improvement in Extra Hiper markets and consistent growth at Assai. Store openings and conversion of Extra Hiper stores to Assai has been boosting sales and aiding the company to accelerate the expansion of its cash-and-carry banner into new cities and states across Brazil. By the end of 2017, the company expects to complete 16 store conversions and open six to eight new Assai stores. We are also encouraged by the company’s operating efficiency and productivity projects. In the second quarter, higher gross margins and a decline in selling, general and administrative expenses at Multivarejo boosted EBITDA margin. Nevertheless, a challenging economic scenario in Brazil results in lower demand and consumer confidence. A slowdown in consumer expenditure has also been affecting the home appliances retail sector.”
  • 9/8/2017 – Companhia Brasileira de Distribuicao was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $27.00 price target on the stock. According to Zacks, “Estimates have been rising since CBD reported improved second quarter 2017 sales, driven by strong improvement in Extra Hiper markets and consistent growth at Assai. However, the reported quarter’s growth was lower than the preceding quarter’s growth. Nevertheless, shares of the company have outperformed the industry over the last three months. Strong customer traffic expansion and increase in sales volume, offsetting the effect of the slowdown in food inflation. Further, higher gross margins and a decline in selling, general and administrative expenses at Multivarejo boosted EBITDA margin. We are encouraged by company’s operating efficiency and productivity projects. Store openings and conversion of Extra Hiper stores to Assai is also boosting sales and will help accelerate the expansion of GPA’s cash-and-carry banner into new cities across Brazil. However, challenging economic scenario in Brazil remains a concern.”
  • 8/30/2017 – Companhia Brasileira de Distribuicao was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $26.00 price target on the stock. According to Zacks, “Estimates have been rising since CBD reported improved second quarter 2017 sales, driven by strong improvement in Extra Hiper markets and consistent growth at Assai. However, the reported quarter’s growth was lower than the preceding quarter’s growth. Nevertheless, shares of the company have outperformed the industry over the last six months. Strong customer traffic expansion and increase in sales volume, offsetting the effect of the slowdown in food inflation. Further, higher gross margins and a decline in selling, general and administrative expenses at Multivarejo boosted EBITDA margin. We are encouraged by company’s operating efficiency and productivity projects. Store openings and conversion of Extra Hiper stores to Assai is also boosting sales and will help accelerate the expansion of GPA’s cash-and-carry banner into new cities across Brazil. However, challenging economic scenario in Brazil remains a concern.”
  • 8/9/2017 – Companhia Brasileira de Distribuicao was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Shares of the company have outperformed the industry over the last six months. In the second quarter, net sales increased 9.0%, driven by strong improvement in Extra Hiper markets and consistent growth at Assai. Strong customer traffic expansion and increase in sales volume, offsetting the effect of the slowdown in food inflation. However, the reported quarter’s growth was lower than the preceding quarter’s growth. Further, higher gross margins and a decline in selling, general and administrative expenses at Multivarejo boosted EBITDA margin. We are encouraged by company’s operating efficiency and productivity projects. Store openings and conversion of Extra Hiper stores to Assai is also boosting sales. The conversions will help accelerate the expansion of GPA’s cash-and-carry banner into new cities and states across Brazil. However, challenging economic scenario in Brazil results in lower demand and consumer confidence.”

Companhia Brasileira de Distribuicao (NYSE:CBD) opened at 24.95 on Wednesday. The company has a 50-day moving average of $23.82 and a 200 day moving average of $21.66. Companhia Brasileira de Distribuicao has a one year low of $14.08 and a one year high of $25.72. The company has a market cap of $6.64 billion, a P/E ratio of 157.91 and a beta of 1.84.

Companhia Brasileira de Distribuicao, directly or through its subsidiaries, is engaged in the retail of food, clothing, home appliances, electronics and other items through its chain of hypermarkets, supermarkets, specialized stores and department stores principally under the trade names Pao de Acucar, Minuto Pao de Acucar, Extra Hiper, Extra Super, Minimercado Extra, Assai an the neighborhood shopping mall brand Conviva.

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