You are here: City and Corporate / Broker note - Debenhams
Thursday June 4th 2009
Broker note - Debenhams
Archived article dated Thursday June 4th 2009
Altium Securities has re-iterated its 'Hold' recommendation on Debenhams following its announcement today (June 4) of a £323 million firm placing and placing with open offer.
The broker says Debenhams is conducting a market book build today and the implications of the move on its financial projections will be adjusted upon completion of the process.
However, the retailer's strong Q3 trading results has prompted Altium to increase its forecasts by £10 million. It has also upped its target price on Debenhams from 91p to 100p, which compares with an underlying share price of 89p following the decline of 4% in early trading this morning.
Tagged as: broker note | debenhams
Share this article:
Should your colleagues be reading the Retail Bulletin?
Let them know about us.
