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Kingfisher: Credit Suisse upgrades stock

( - Credit Suisse has upgraded its rating on the Kingfisher stock from "neutral" to "outperform," raising its 12-month target price from 255 pence to 290 pence, seeing a "potential inflection point" for the DIY retailer.

"Consumer demand across Europe has finally shifted back to the home and that the new management team has resolved many of the company's IT, range and supply chain issues," the broker said in its report.

Credit Suisse considers that the Kingfisher stock already appears to good value and "we see significant upside if either M-T demand or execution continue to improve".

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