Kingfisher: UBS still a seller; cuts target price
(CercleFinance.com) - UBS has repeated its "sell" recommendation on the Kingfisher stock, cutting its target price from 265 pence to 260 pence, meaning downside potential of 5%, the day after the pan-European DIY store group gave a trading update.
The broker said that, “Although some of the H1 margin pressure is from timing issues, we reduce FY19E PBT by 5% to allow for weaker sales trends at Castorama France.”
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The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
The broker said that, “Although some of the H1 margin pressure is from timing issues, we reduce FY19E PBT by 5% to allow for weaker sales trends at Castorama France.”
Copyright (c) 2018 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.