Kingfisher: UBS cuts target price
(CercleFinance.com) - UBS reiterates its “sell” rating on Kingfisher and has cut its target price for the share from 260 pence to 225 pence, meaning downside potential of 11% of DIY retail group, which owns Castorama in France and B&Q in the UK.
"Without the benefit of incremental ONE Kingfisher gains this year, we think underlying profits could fall by c20%. We don't see this trend reversing in FY20".
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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.
"Without the benefit of incremental ONE Kingfisher gains this year, we think underlying profits could fall by c20%. We don't see this trend reversing in FY20".
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.