Bank of America maintains its 'buy' rating on Ahold Delhaize shares, nudging up its target price for them from €39 to €40, following the publication of the Belgian-Dutch retailer's Q1 results.

The broker points out 3.3% growth in comparable sales, 120 basis points above consensus, with underlying EBIT 3% higher than expected, in addition to the group confirming its annual targets.

Improved LFL and volume growth in the US are positive signs that the medium-term plan is on track, BofA says, which has raised its EBIT and EPS estimates for 2025 by 2% to 3%.


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