(News Bulletin 247) – UBS reiterates its ‘sell’ recommendation on Kingfisher, while adjusting its price target from 220 to 225 pence, a new target close (-3%) to the last share price of the British retailer specializing in DIY items.
In the summary of its research note, the broker indicates that it is reviewing its estimates before the publication of Kingfisher’s results for its first half of 2023-24, a publication scheduled for September 19.
UBS thus increases its revenue assumptions for the group – which notably operates Castorama and Brico Dépôt in France – by around 3% in the short term and its pre-tax profit forecast for the full year to £552 million. .
Copyright (c) 2023 News Bulletin 247. All rights reserved.
I have over 8 years of experience working in the news industry. I have worked as a reporter, editor, and now managing editor at 247 News Agency. I am responsible for the day-to-day operations of the news website and overseeing all of the content that is published. I also write a column for the website, covering mostly market news.
