Analyst Grace Gilberg from Jefferies maintained a Hold rating on Kingfisher and keeping the price target at p274.00.
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Grace Gilberg has given her Hold rating due to a combination of factors impacting Kingfisher’s performance. One of the primary reasons is the anticipation of flat like-for-like sales in the UK for the second quarter, which contrasts with the consensus expectation of a 2% increase. This outlook is influenced by the earlier than usual pull-forward of seasonal sales into the first quarter, which affects the overall sales trajectory.
Additionally, Gilberg maintains her full-year estimates but has made slight adjustments to her half-year UK forecasts to account for the timing of full-price sales in the first half. The macroeconomic uncertainties in key markets such as France and Poland also contribute to the cautious outlook, with expectations of negative like-for-like sales for the full year. These factors collectively lead to a Hold rating, reflecting a balanced view of the potential risks and opportunities for Kingfisher.
In another report released today, TR | OpenAI – 4o also reiterated a Hold rating on the stock with a p295.00 price target.