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Kingfisher Advances £300 Million Share Buyback Programme

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Kingfisher Advances £300 Million Share Buyback Programme

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Kingfisher ( (GB:KGF) ) has provided an announcement.

Kingfisher plc, a company engaged in a £300 million capital return programme, announced the purchase and cancellation of 266,797 ordinary shares from BNP Paribas SA. This transaction is part of the second tranche of the programme, with a total of 2,870,797 shares bought back from BNP Paribas and 17,932,871 shares from Goldman Sachs International in the first tranche. The buyback is conducted as an on-exchange transaction following the London Stock Exchange rules, potentially impacting the company’s share value and investor returns.

The most recent analyst rating on (GB:KGF) stock is a Hold with a £330.00 price target. To see the full list of analyst forecasts on Kingfisher stock, see the GB:KGF Stock Forecast page.

Spark’s Take on GB:KGF Stock

According to Spark, TipRanks’ AI Analyst, GB:KGF is a Outperform.

Kingfisher’s stock score of 73 reflects a stable financial foundation, supported by positive technical indicators and strong corporate actions like share buybacks. However, it is tempered by valuation concerns and revenue challenges, highlighting a need for cautious optimism.

To see Spark’s full report on GB:KGF stock, click here.

More about Kingfisher

Average Trading Volume: 7,627,311

Technical Sentiment Signal: Strong Buy

Current Market Cap: £5.08B

Learn more about KGF stock on TipRanks’ Stock Analysis page.

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