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Kingfisher: shares drop on negative UBS comments
(CercleFinance.com) - Kingfisher, Europe's biggest home improvement retailer, is down 0.
2% at 253.2 pence on Wednesday after a UBS report highlighted the decline in the group's business. The broker - which has a "sell" rating on the stock - has cut its target price on the share from 260 pence to 225 pence. "Without the benefit of incremental One Kingfisher (strategic plan) gains this year, we think underlying profits could fall by around 20%," UBS warned. "We don't see this trend reversing in fiscal year 2020," it added. Copyright (c) 2018 CercleFinance.com. All rights reserved. |
19/04/2024 18:06
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