Brokers note - Debenhams
Singer Capital Markets has re-iterated its Buy recommendation on Debenhams ahead of its Q4 update next Tuesday (September 14).The broker expects the numbers to reveal the negative effects of th e loss of concession business as the group undertakes its space change programme. However, it believes the early evidence of own brand development within this initiative is encouraging. The broker is overall forecasting a decline in like-for-like sales of 5.5% during Q4.
Singer Capital Markets keeps its price target unchanged at 100p, which compares with an underlying share price of 84.65p following the increase of 1% in early trading today (September 7)
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