BUZZ-KBC cuts Ahold Delhaize to 'accumulate' on limited upside

-0.92%

Array Digital Infrastructure, Inc.

48.24

-0.92%

** KBC Securities downgrades Dutch-Belgian supermarket operator Ahold Delhaize AD.AS to "accumulate" from "buy", citing limited share price upside to its new target price

** The brokerage raises its price target to EUR 43 from EUR 38, reflecting a model rollover after strong fourth-quarter results and impressive free cash flow generation

** KBC notes US margins remain resilient and that "price investments are paying off" as comparable sales growth gradually improves against peers in the region

** In Europe, the broker expects margins to improve, driven by synergies from the Profi acquisition and an earlier reorganisation in its Belgian business

** It sees potential for the company to outperform its 2026 margin target, forecasting a 4.1% adjusted EBIT margin versus the company's own 4.0% guidance

** Out of 17 analysts that cover Ahold Delhaize, nine rate the stock "strong buy" or "buy," six rate "hold" and two rate the stock "strong sell" or "sell" - LSEG data

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