Dixons Carphone: Credit Suisse slashes target price.
(CercleFinance.com) - Credit Suisse has cut its target price for the Dixons Carphone from 400 pence to 280 pence the day after the group issued a profit warning.
However, the broker maintains its "outperform" rating on the stock of the British mobile telephony distributor.
The Swiss broker has also cut its pre-tax profit estimates by 22% over its forecast period, it now estimating 399 million pounds for 2017-18, which is the middle of management's target range.
Credit Suisse considers that after the share price fell by about 20% on Thursday, the Dixons Carphone share now seems cheap relative to its peers, trading at 6.5x expected EPS.
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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.
However, the broker maintains its "outperform" rating on the stock of the British mobile telephony distributor.
The Swiss broker has also cut its pre-tax profit estimates by 22% over its forecast period, it now estimating 399 million pounds for 2017-18, which is the middle of management's target range.
Credit Suisse considers that after the share price fell by about 20% on Thursday, the Dixons Carphone share now seems cheap relative to its peers, trading at 6.5x expected EPS.
Copyright (c) 2017 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.