Carrefour S.A., FR0000120172

Carrefour stock: Morgan Stanley cuts its target to EUR 18.35

Published on 10/21/2026 at 15:14 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Sales rose 3.90 percent to EUR 22.69 billion. Carrefour stock costs EUR 14.07 on October 21, 2026, down 13.68 percent versus the Tradegate close.

Analyst target and reporting date

Morgan Stanley cut its Carrefour target to EUR 18.35 from EUR 20.10 on October 21, 2026.
Third-quarter sales rose 3.90 percent to EUR 22.69 billion on October 20, 2026.
Carrefour stock costs EUR 14.07 at Lang & Schwarz on October 21, 2026 at 3:07 p.m. CEST, 13.68 percent below the Tradegate close of October 20, 2026.
Carrefour plans to present its hypermarket strategy in France on November 17, 2026.

Carrefour FR0000120172 Architektur-Render moderne Einzelhandels-Logistikhalle mit Sägezahndach — Architektur-Render einer Logistikhalle visualisiert Carrefour, ISIN FR0000120172, moderne Versorgungskette des französischen Einzelhandels, Illustration mit AI erstellt.

Carrefour (ISIN FR0000120172) faces a lower analyst valuation after Morgan Stanley cut its price target to EUR 18.35 from EUR 20.10 on October 21, 2026. According to Yahoo Finance, the new target is 30.42 percent above Carrefour's EUR 14.07 price, while the stock was 13.68 percent below the Tradegate close of EUR 16.30 on October 20, 2026. Carrefour was trading at EUR 14.07 at Lang & Schwarz on October 21, 2026 at 3:07 p.m. CEST.

Sales held up before the reset

Carrefour's third-quarter sales rose 3.90 percent to EUR 22.69 billion on October 20, 2026, while like-for-like sales increased 2.30 percent. The figure followed 2.10 percent like-for-like growth in the first half of 2026, according to the company's release carried by Finanzwire. E-commerce increased 18.00 percent during the quarter, and Carrefour opened 89 convenience stores in France and Spain.

Price position after the warning

The Lang & Schwarz price stood 11.40 percent above the EUR 12.63 52-week low and 19.78 percent below the EUR 17.54 high, using the same October 21, 2026 quote. The market capitalization was EUR 9.9 billion, and trading volume reached 6,049,048 shares on October 21, 2026.

Why does the target matter?

Morgan Stanley also moved its rating from Overweight to Equal Weight on October 21, 2026. The bank cited reduced earnings visibility after Carrefour lowered its 2026 operating-margin expansion outlook to 0 to 15 basis points from 25 basis points, while adjusted earnings per share moved from high-single-digit growth to stable-to-slight growth.

Valuation and next company date

Carrefour's price-to-earnings ratio was 12.50 on October 21, 2026. The company said on October 20, 2026 that it expects recurring operating income to grow, but it reduced 2026 capital expenditure to EUR 1.60 billion from EUR 1.70 billion. Its next scheduled company event is the presentation of its French hypermarket strategy on November 17, 2026.

Comparison with peers

Tesco (LSE, GBp): price-to-earnings ratio 17.93 and market capitalization GBP 33.5 billion as of October 21, 2026. Koninklijke Ahold Delhaize (Euronext Amsterdam, EUR): price-to-earnings ratio 12.92 and market capitalization EUR 28.4 billion as of October 21, 2026. Carrefour's lower price-to-earnings ratio sits alongside a smaller market value than both peers.

Stock remains below its yearly high

Carrefour's EUR 14.07 price at Lang & Schwarz on October 21, 2026 at 3:07 p.m. CEST was EUR 2.23 below the Tradegate close of October 20, 2026 and 19.78 percent below the 52-week high. The further course of trading is shown by the continuously updated real-time quote of Carrefour stock.