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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