JPM optimistic on UK food retail, more picky with EU names
** J.P.Morgan says European food retail looks more balanced going into 2025, seeing particularly constructive growth in Britain while being more picky with EU stocks
** "The US, Belgium & France appear the most pressured markets currently, whilst the UK remains relatively visible" - JPM
** The British market's "rational" behaviour supports margins, cash flow and capital return visibility, it says, upgrading Tesco TSCO.L and Sainsbury SBRY.L to "overweight" from "underweight"
** Both stocks are also on JPM's positive catalyst watch ahead of the important end-of-year holiday season
** It is most cautious of U.S.-exposed Ahold Delhaize AD.AS and France's Carrefour CARR.PA, both rated "underweight", predicting a disappointing 2025 outlook for them
** It sticks to "overweight" rating for Jeronimo Martins JMT.LS and Colruyt COLR.BR, saying they remain "price setters in their respective markets"
Reporting by Jakob Van Calster
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