Tarkett: Jefferies upgrades stock

(CercleFinance.com) - Jefferies has upgraded its rating on the floor and wall covering group Tarkett's shares from "underperform" to "hold", having increased its corresponding target price from 12.
63 euros to 20 euros, i.e. the price of the takeover bid launched by the group's majority shareholder, the Deconinck family, on 25 April.

"We see few risks to the tender offer completing and do not expect a counter-offer. As such, we expect Tarkett to be de-listed at end-July and limited movement in its share price until then", the broker says.

The share is up slightly (+0.25%) at the time of writing.


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