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Brokers note - Halfords

KBC Peel Hunt has reiterated its ‘Buy’ recommendation on Halfords ahead of its interim results on November 19.

CITY & CORPORATE

Brokers note - Halfords

The broker says there should be no surprises with the results following the previous trading update, although there is some scope for more upgrades in the near-term. KBC Peel Hunt continues to regard Halfords as one of the few genuine growth companies in the retail sector.

The broker is predicting pre-tax profits of £61.3 million and expects further profit growth in H2. It believes consensus forecast and its own predictions for H2 are conservative. It retains its price target of 450p, which compares with an underlying share price of 416.6p.

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