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Broker's note - Carpetright

Investec Securities has re-iterated its ‘Sell’ recommendation on Carpetright after its preliminary results today (June 30).

CITY & CORPORATE

Broker's note - Carpetright

The broker says the results were slightly below
its expectations but the big surprise was the cut to the final dividend. Against a tough backdrop, Investec questions the significant premium that is still applied to Carpetright shares.

It keeps its target price unchanged at 410p, which compares with an underlying share price of 581p following the 3% decline today.

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