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Monday March 30th 2009
The City view - Carpetright
Archived article dated Monday March 30th 2009
Altium Securities has upgraded its target price on Carpetright following the recent outperformance of the retail sector.
The broker has upped its target from 185p to 225p in order to reflect the 30% outperformance of the sector during this year. However, despite the increase in the target price, Altium still believes Carpetright shares are expensively valued on the basis that there is likely to be further difficulties ahead for retailers.
It therefore retains its 'Sell' recommendation on the Carpetright, which currently trades at 410.25p following the 1.3% increase in early trading today (March 30).
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