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Kingfisher: UBS lowers target price

( - UBS reaffirms its 'sell' recommendation on Kingfisher with a price target lowered from 205 to 201 pence, a new target implying a potential downside of 9% for the stock of the pan-European home improvement retailer.

With regard to the 2024 financial year, we are concerned that rising costs - such as wages - could impact pre-tax profit expectations in a weak sales environment," warns the broker in the summary of its note.

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