Kingfisher: UBS upgrades stock

(CercleFinance.com) - UBS upgrades Kingfisher shares from 'sell' to 'neutral', with a target price raised from 201 pence to 340 pence, now roughly in line with the last closing price of the stock of Europe's leading DIY retailer.


Kingfisher is well positioned to grow sales and margins as the housing market recovers, but the weakness in France and a +35% rise in the share price over three months limit our enthusiasm, the broker explains.


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