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You are here: Home | News | The City view - Sports Direct

The City view - Sports Direct

Thursday February 19th 2009

Despite better than expected third-quarter results from Sports Direct, Investec Securities re-iterates its 'Sell' recommendation on the company.

The broker says the trading figures showed that Sports Direct was
successful with its discount positioning, albeit at the expense of margins, but it still regards the company as being over-valued.

Investec suggests there is more margin compression on the horizon and that this will contribute to putting pressure on the company's ability to meet 2009/10 forecasts. The broker has a price target of 30p on Sports Direct, which compares with an underlying share price of 59.5p following the 2% fall today (February 19).


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Tagged as: city broker view | sports direct

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