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JP Morgan: recommendation on X5 Retail Group is "underweight"
30 November 2007
JP Morgan maintains its "underweight" recommendation on X5 Retail Group, while reducing their estimates for the company.
In research analysts mention that the company has reported its 3Q07 earnings below the estimates.
Also X5 Retail Stores has announced that it is postponing some store openings until 2008, while cutting its FY07 net selling space target by 7%.
The EPS estimates for FY07 and FY08 have been reduced from $0.61 to $0.53 and from $0.81 to $0.74, respectively.
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