Tarkett: stock up with backing from a broker
(CercleFinance.com) - The Tarkett share is up 1.
2% today, after Barclays initiated its coverage against with an "overweight" recommendation and a target price of 23 euros, with the broker emphasising the flooring specialist's geographically balanced presence.
"While revenues are less cyclical (driven mainly by non-residential renovation) than for the rest of our coverage, earnings have suffered over the last two years," the broker said.
Barclays expects, "a strong rebound, fuelled mainly by self-help levers, and this is not captured by consensus expectations" and considers that the share's valuation appears "reasonably attractive" in historical and relative terms.
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