Brokers note - DSG
Investec Securities has reiterated its Buy recommendation on DSG following its better than expected interim results.
The broker says the loss of £17.6 million was ahead of estimates and compares with last year’s restated figure of a £17.7 million loss. Investec sees this as a result of the group’s Renewal and Transformation programme that justifies the broker’s ‘Buy’ recommendation on DSG.
Investec also expects to upgrade its current consensus pre-tax profit forecast of £55 million to around £65 million for the full-year. The broker also maintains its price target of 50p on DSG, which compares with an underlying share price of 37.39p following the 2% increase today (November 26).
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