Just Eat Takeaway downgraded to Underperform from Neutral at Exane BNP Paribas

Exane BNP Paribas analyst Andrew Gwynn downgraded Just Eat Takeaway.com to Underperform from Neutral with a EUR 13 price target. The Q2 reports are likely to confirm food delivery as a “loss making, cash burning growth industry without growth,” the analyst tells investors in a research note. The firm believes volumes will be negative for most companies and is taking a more cautious stance.