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Kingfisher ( (GB:KGF) ) has provided an update.
Kingfisher plc has announced the repurchase and cancellation of 609,507 ordinary shares as part of its ongoing £300 million share repurchase programme. This transaction, conducted with Morgan Stanley, is part of the fourth tranche of the programme, which has seen Kingfisher buy back a total of 2,765,363 shares from Morgan Stanley. The share repurchase initiative is aimed at enhancing shareholder value and reflects the company’s commitment to returning capital to its shareholders.
The most recent analyst rating on (GB:KGF) stock is a Buy with a £350.00 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 Neutral.
Kingfisher’s overall stock score reflects a stable financial position and strong earnings call performance, with raised guidance and strategic growth initiatives. However, technical indicators show mixed signals, and valuation metrics suggest potential overvaluation. The subdued market in France and anticipated cost headwinds in H2 are notable risks.
To see Spark’s full report on GB:KGF stock, click here.
More about Kingfisher
Average Trading Volume: 6,635,548
Technical Sentiment Signal: Buy
Current Market Cap: £5.29B
Learn more about KGF stock on TipRanks’ Stock Analysis page.