Dixons Carphone: Morgan Stanley upgrades stock

(CercleFinance.com) - Morgan Stanley has upgraded its rating on the Dixons Carphone stock from “equal weight” to “overweight,” having increased its target price form 175 pence to 240 pence, considering that the share is “very oversold”.


"Dixons Carphone's market cap is now c20% lower than Dixon's standalone value pre-merger," the broker points out in its report on the British consumer electronics and telecom product retailer.

However, the broker points out that the Dixons side of the business has performed better than it was expecting and that the Carphone side is now likely to generate strong cash flows.


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