We don’t support this browser anymore.
This means our website may not look and work as you would expect. Read more about browsers and how to update them here.

In this section

Shares

HSBC upgrades Kingfisher to 'buy'

Thu 11 April 2024 09:25 | A A A

No recommendation

No news or research item is a personal recommendation to deal. Hargreaves Lansdown may not share ShareCast's (powered by Digital Look) views.

(Sharecast News) - HSBC upgraded B&Q and Castorama owner Kingfisher on Thursday to 'buy' from 'hold' and lifted the price target to 305p from 235p.

This implies upside of 26% and is driven by an improved medium-term outlook, the bank said.

HSBC said a macro recovery, France restructuring and trade and e-commerce & digital represent growth opportunities for the company.

The bank said it was updating estimates for FY results and revised guidance for FY25, which it views as the bottom of the cycle.

At 0925 BST, the shares were up 4.1% at 251.90p.

    The value of investments can go down in value as well as up, so you could get back less than you invest. It is therefore important that you understand the risks and commitments. This website is not personal advice based on your circumstances. So you can make informed decisions for yourself we aim to provide you with the best information, best service and best prices. If you are unsure about the suitability of an investment please contact us for advice.


    More stockbroker tips from ShareCast

    Latest economy and stock market articles