Kingfisher plc (KGF) Raised to “Buy” at Jefferies Group LLC
Kingfisher plc (LON:KGF) was upgraded by analysts at Jefferies Group LLC to a “buy” rating in a report issued on Wednesday. The firm presently has a GBX 400 ($5.26) price objective on the home improvement retailer’s stock, up from their prior price objective of GBX 310 ($4.08). Jefferies Group LLC’s price objective would indicate a potential upside of 24.73% from the stock’s previous close.
A number of other brokerages have also recently weighed in on KGF. Barclays PLC reiterated an “underweight” rating and set a GBX 300 ($3.95) price target on shares of Kingfisher plc in a research note on Friday, August 11th. J P Morgan Chase & Co reiterated an “underweight” rating and set a GBX 288 ($3.79) price target on shares of Kingfisher plc in a research note on Monday, September 4th. Royal Bank Of Canada upgraded shares of Kingfisher plc to a “sector performer” rating and increased their price target for the stock from GBX 300 ($3.95) to GBX 325 ($4.27) in a research note on Friday, November 17th. Deutsche Bank AG reduced their target price on shares of Kingfisher plc from GBX 355 ($4.67) to GBX 325 ($4.27) and set a “hold” rating for the company in a research note on Friday, September 8th. Finally, Credit Suisse Group restated an “outperform” rating on shares of Kingfisher plc in a research note on Wednesday, September 20th. Six research analysts have rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company. The company has an average rating of “Hold” and an average target price of GBX 331.14 ($4.36).
Shares of Kingfisher plc (LON KGF) traded down £319.39 ($420.09) during trading hours on Wednesday, reaching GBX 320.70 ($4.22). 7,905,228 shares of the company were exchanged, compared to its average volume of 9,870,000. Kingfisher plc has a 12-month low of GBX 269.60 ($3.55) and a 12-month high of GBX 370.30 ($4.87).
In other news, insider Veronique Laury sold 2,294 shares of Kingfisher plc stock in a transaction dated Tuesday, October 24th. The shares were sold at an average price of GBX 303 ($3.99), for a total transaction of £6,950.82 ($9,142.21). Also, insider Andrew Cosslett purchased 99,802 shares of the stock in a transaction dated Tuesday, October 3rd. The shares were purchased at an average price of GBX 301 ($3.96) per share, with a total value of £300,404.02 ($395,112.48). Over the last quarter, insiders have bought 99,903 shares of company stock valued at $30,070,427.
Kingfisher plc Company Profile
Kingfisher plc is engaged in the supply of home improvement products and services through a network of retail stores and other channels, located mainly in the United Kingdom and continental Europe. The Company’s segments include France, UK & Ireland, and Other International. The Other International segment consists of Poland, Spain, Portugal, Germany, Russia, Romania and the joint venture Koctas Yapi Marketleri Ticaret A.S.
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