The double-whammy of weak Q3 results plus a subsequent profit warning has battered the FY18 earnings estimates. The stock price is unlikely to regain strength unless management presents a credible plan for its core market Germany. The next crucial trigger is the performance in the peak trading season (especially Black Friday week). We have also applied a peer discount to factor in weaker growth prospects, poor investor sentiment and the delay in sorting the pressing issues. Our stock recommen
05 Oct 2018
Ceconomy continues to disappoint
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Ceconomy continues to disappoint
The double-whammy of weak Q3 results plus a subsequent profit warning has battered the FY18 earnings estimates. The stock price is unlikely to regain strength unless management presents a credible plan for its core market Germany. The next crucial trigger is the performance in the peak trading season (especially Black Friday week). We have also applied a peer discount to factor in weaker growth prospects, poor investor sentiment and the delay in sorting the pressing issues. Our stock recommen