Kingfisher price target raised to 250 GBp from 205 GBp at Jefferies

Jefferies raised the firm’s price target on Kingfisher to 250 GBp from 205 GBp but keeps a Hold rating on the shares. While there is scope for further re-rating if macro conditions improves, the firm remains wary as U.K. housing indicators show little correlation with Kingfisher trading items and given that the long-standing challenges in France could drag on the stock’s valuation, the analyst tells investors in a research note.