Credit Suisse notes the independent food retail sector has been a significant beneficiary of increased expenditure and more local shopping.
While some reversion to normal can be expected over time, independent retailers have indicated that market share changes may persist for some time.
Credit Suisse retains an Outperform rating for Metcash and raises the target to $3.62 from $3.55.
Sector: Food & Staples Retailing.
Target price is $3.62.Current Price is $2.82. Difference: $0.80 – (brackets indicate current price is over target). If MTS meets the Credit Suisse target it will return approximately 22% (excluding dividends, fees and charges – negative figures indicate an expected loss).
