Upgrade to Buy, TP raised to by 18% to EUR 16.5We upgrade our rating to Buy from Hold for the following reasons:Difficult years behind. Sligro Food Group has faced four difficult years after the Covid-19 pandemic and energy crisis causing high inflation, low consumer confidence and pressure on consumer spending. On top came the labour scarcity depressing the capacity in the restaurant market. This resulted in negative volume growth. Last but not least, a failed SAP implementation and other issues caused a serious setback in the Belgian operations and did hit credibility on the future of SFG in Belgium. This