Jefferies lowered the firm’s price target on Kingfisher (KGFHY) to 270 GBp from 296 GBp and keeps a Hold rating on the shares. The company’s shares fell 13% yesterday following a softer Q3 top-line trend than expected, a lowering of FY25 Group midpoint profit before tax guidance, and increased NIC contributions that will likely weigh on FY26 profits, the analyst tells investors in a research note. The firm added that it remains cautious on the near-term recovery, particularly in France given the weak macro backdrop and historical competitive challenges in the region.
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