Brokers note - Halfords
The broker suggests the combination of better weather and the trend for ‘staycations’ will help the company deliver better Q2 figures than expected. It is therefore raising its full-year pre-tax profits forecasts on Halfords by 6.8% to £102 million for the current year.
Investec has also increased its target price from 400p to 435p to place the company at a 10% discount to the sector for 2010, which compares with the current 30%. This contrasts with a current share price of 349.5p following the 3% increase on Thursday (September 24).
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