Analyst Grace Gilberg from Jefferies maintained a Hold rating on Kingfisher (KGF – Research Report) and keeping the price target at p274.00.
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Grace Gilberg’s rating is based on a combination of factors, including the anticipation of Kingfisher’s Q2 performance. The company is expected to experience a slowdown in like-for-like sales in the UK during the second quarter, following a significant shift of seasonal sales into the first quarter. This shift has led to a more cautious outlook for the upcoming quarter.
Additionally, Grace Gilberg has adjusted the group’s adjusted profit before tax forecast slightly downward by approximately 2%, now estimating it to be around £509 million, which remains within the company’s guidance range. These factors contribute to the Hold rating, reflecting a balanced view of potential risks and opportunities for Kingfisher’s stock performance in the near term.
Based on the recent corporate insider activity of 16 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of KGF in relation to earlier this year.