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Kingfisher: shares rise on broker upgrade.

(CercleFinance.com) - Kingfisher shares are currently up 1.
4% at 304.30 pence in London, after a broker upgraded its rating on the share of the home improvement retailer.

Seeing "reasons to be more cheerful," RBC Capital Markets upped its rating on Kingfisher from "underperform" to "sector perform," with a new target price of 325 pence, which it has raised from 300 pence.

In a research note sent to clients, RBC cites a combination of a housing recovery that is spreading in France, accelerated plans to improve French ecommerce, further cost savings and now a less demanding valuation.

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