Dixons Carphone: Canaccord Genuity keeps its 'hold' rating
(CercleFinance.com) - Canaccord Genuity maintains its "hold" rating and target price of 190 pence for the Dixons Carphone stock, following the British electricals retailer's recent trading update.
"The shares had performed strongly over the three months into the trading update, with much of that now reversed," the Canadian broker wrote in a note to clients.
The stock has dropped almost 12% over the past month.
"While it is too early to call the bottom or to assess the cost of fixing Carphone, there is a relatively strong underlying asset here in the electricals business," Canaccord said.
Regarding short-term catalysts, the broker said that much will now depend on the CEO's performance when results are published on 21 June.
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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 shares had performed strongly over the three months into the trading update, with much of that now reversed," the Canadian broker wrote in a note to clients.
The stock has dropped almost 12% over the past month.
"While it is too early to call the bottom or to assess the cost of fixing Carphone, there is a relatively strong underlying asset here in the electricals business," Canaccord said.
Regarding short-term catalysts, the broker said that much will now depend on the CEO's performance when results are published on 21 June.
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.