Ceconomy AG: Q2 prelims surprise positively; PT up, upgrade to HOLD

According to preliminary data, Ceconomy saw a strong sales development in Q2 22/23, which ended on 31 March. The company reported a currency and portfolio adjusted sales growth of c. 6% yoy, citing the segments DACH and Eastern Europe as main contributors. The company has already posted solid results for the December quarter (Q1 22/23) in terms of sales. Together with the already positive Q1 data, this should eliminate the negative of the two outlook scenarios. We are now more optimistic than in our previous estimates, which results in a higher PT of EUR 2.20. On the current share price level, we upgrade to HOLD.

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Die CECONOMY Aktie wird zum Zeitpunkt der Veröffentlichung der Nachricht mit einem Minus von -0,09 % und einem Kurs von 2,13EUR auf Tradegate (13. April 2023, 14:09 Uhr) gehandelt.