Analyst Andrew Wade of Jefferies maintained a Buy rating on DFS Furniture (DFS – Research Report), retaining the price target of p170.00.
Andrew Wade has given his Buy rating due to a combination of factors including DFS Furniture’s impressive financial performance and strategic market positioning. The company reported a significant increase in profit before tax for the first half of the fiscal year, nearly doubling from the previous year, driven by a 10% rise in order intake as market conditions improved and DFS gained market share from competitors.
Furthermore, the early trading in the second half of the year has shown continued strength, with year-to-date order intake accelerating to 11%. This positive momentum has led to an upward revision in profit expectations for the full year, with a consensus upgrade of 19%. Despite some anticipated challenges in the second half, such as tougher comparisons and external headwinds, the long-term margin potential remains strong, supporting the positive outlook and Buy rating.