Business
Equita cuts Italy's Marr to 'hold' on a 2025 'more difficult than expected'
Equita cuts Italy's Marr to 'hold' on a 2025 'more difficult than expected'
About this update from Marr Spa
** 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)