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Tuesday April 28th 2009
Broker view - Carpetright
Archived article dated Tuesday April 28th 2009
KBC Peel Hunt has re-iterated its 'Buy' recommendation on Carpetright following its trading update for the year-end.
The broker says the final quarter of the year was consistent with the trends seen in Q3, although the strength of the Euro and weakness of Sterling has impacted negatively on the group's margin delivery, which has come in below KBC Peel Hunt's expectations.
Although this has adversely affected the pre-tax profit levels pencilled in for the current year KBC Peel Hunt are upgrading its forecasts for 2010. Carpetright shares are currently trading at 510p following the 3% decline in early trading today (April 28).
Tagged as: broker | carpetright
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