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Kingfisher: UBS reduces target price

( - UBS matintains its "sell" rating on Kingfisher s hares, reducing its target price for them from 205 pence to 201 pence, with the latter representing 9% downside potential for the stock of the pan-European home improvement retailer.

"Looking ahead to FY24, we are concerned that rising costs - such as wages - could impact PBT expectations against a weak sales environment," the broker warns.

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