Em breve actualizarei o blog com um gráfico com dados de hoje. Os interessados poderão consultar a última AT feita sobre este título aqui:
Metro – 17/Setembro
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STOCKWATCH Metro up on report CEO Koeber to be replaced by Cordes UPDATE
(Updating with further analyst and trader comment, current share price) FRANKFURT (Thomson Financial) - Shares in Metro AG were significantly higher in early morning trade after a report in the Sueddeutsche Zeitung said that the retail giant plans to replace its current chief executive Hans-Joachim Koebver with Eckhard Cordes at the end of October.
Traders said the move could signal a willingness on the part of the company to sell its real estate business and it might even consider disposing of its troubled department store operations, Kaufhof.
In response to the report, Commerzbank raised its rating on the retailer to 'buy' from 'hold' and lifted its target price to 69 eur per share from 'under review' status.
At 9.15 am shares in Metro were 3.97 eur or 6.32 pct higher at 66.77, making it the top gainer in the DAX, which was 43.79 points or 0.56 pct lower at 7,707.05.
"Cordes heads (Franz) Haniel (GmbH), which last month took joint control of Metro together with the Schmidt-Ruthenbeck family. The shares should see a boost as speculation is now higher that Metro might sell its real estate business. Even a sale of the department store business (Kaufhof) could come on the agenda," a Frankfurt-based trader said.
"Watch out for the prompt, value-enhancing disposal of Kaufhof should the change take place; this would add 6 eur to out target price straight away," said a London trader.
Commerzbank analyst Juergen Elfers said in a note to clients that "Cordes intends to exploit strategic options for value-enhancing measures, and in this context the focus is firmly set on Extra, Kaufhof and also Real hypermarkets." "(Fellow retailer) Arcandor's CEO Thomas Middelhoff and Cordes might find options for a sensible deal for Kaufhof, an entity that has never actually covered costs of capital at Metro. The probability of a creative solution for the department stores is rising, but the value of Kaufhof operations is limited, in our opinion," Elfers said.
Sueddeutsche Zeitung cited company sources as saying current chief executive Hans-Joachim Koerber is to be replaced by chairman of the supervisory board and head of Franz Haniel GmbH, Eckhard Cordes, at the end of October.
Fonte: STOCKWATCH Metro up on report CEO Koeber to be replaced by Cordes UPDATE
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