** Equita cuts Italy's Marr MIL:MARR to "hold" from "buy" on a "more difficult than expected" 2025 for the foodservice distributor
** Shares fall as much as 2.9%
** Marr's margins were impacted by weaker consumption, and a "still rather competitive" context, it says
** It adds that Marr also faced headwinds from a "not yet fully operational" offer segmentation, delays in the transfer of logistics to its new platform, and internalisation of handling activities
** "These actions will continue to impact for a few quarters, while the related benefits remain to be seen" - Equita
** Cuts the TP by 15% to 10.4 euros ($12.07)
** Up to the previous session's close, shares were down 11% YTD
** Out of 6 analysts covering Marr, four rate it "strong buy" or "buy," two "hold" - LSEG data
($1 = 0.8619 euros)