LONDON, September 15 (newratings.com) - Analyst Freddie George of Seymour Pierce downgrades J Sainsbury Plc (ticker: SBRY-GBX) from "buy" to "hold," while reducing his estimates for the company.
In a research note published this morning, the analyst
mentions that the food retail market is turning increasingly weak and competitive. J Sainsbury is witnessing a decline in returns from its refurbishment programme and slower-than-expected non-food gains, the analyst says. The EPS estimate for 2009/10 has been reduced from 21.6p to 20.3p.
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