Kingfisher plc (LON:KGF) Lifted to “Overweight” at Morgan Stanley

Kingfisher plc (LON:KGF) was upgraded by research analysts at Morgan Stanley to an “overweight” rating in a report issued on Wednesday, July 12th. The brokerage currently has a GBX 380 ($4.95) price objective on the home improvement retailer’s stock, up from their prior price objective of GBX 290 ($3.78). Morgan Stanley’s price target indicates a potential upside of 24.02% from the company’s previous close.

A number of other research analysts have also recently weighed in on the stock. HSBC Holdings plc reiterated a “buy” rating and issued a GBX 440 ($5.73) price target on shares of Kingfisher plc in a report on Friday, June 30th. Barclays PLC restated an “underweight” rating on shares of Kingfisher plc in a report on Monday, June 26th. Goldman Sachs Group, Inc. (The) restated a “neutral” rating and issued a GBX 350 ($4.56) target price on shares of Kingfisher plc in a report on Tuesday, June 20th. J P Morgan Chase & Co reiterated an “underweight” rating and set a GBX 288 ($3.75) price target on shares of Kingfisher plc in a report on Wednesday, June 14th. Finally, Jefferies Group LLC reiterated a “hold” rating and set a GBX 325 ($4.23) price target on shares of Kingfisher plc in a report on Monday, June 5th. Eight equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of GBX 330.19 ($4.30).

Kingfisher plc (LON:KGF) remained flat at GBX 306.40 during midday trading on Wednesday. 5,755,053 shares of the stock were exchanged. Kingfisher plc has a 1-year low of GBX 269.60 and a 1-year high of GBX 390.60. The company has a 50-day moving average of GBX 302.64 and a 200-day moving average of GBX 323.72. The company’s market cap is GBX 6.84 billion.

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In related news, insider Karen Witts sold 36,780 shares of the stock in a transaction on Monday, July 3rd. The shares were sold at an average price of GBX 304 ($3.96), for a total transaction of £111,811.20 ($145,606.46). Insiders have purchased 143 shares of company stock worth $44,778 over the last three months.

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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