Kingfisher: supported by broker upgrade

(CercleFinance.com) - Kingfisher gained more than 1% in London, on the back of favorable comments from UBS, which raised its recommendation from 'sell' to 'neutral' on the stock of Europe's leading DIY retailer, with a price target raised from 201 to 340 pence.


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

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