Brokers note - Home Retail Group
Pali International has upgraded its recommendation on Home Retail Group from Neutral to Buy following its interim results.
The broker says that despite caution from management about H2, Pali International believes there is plenty of profit-upgrade potential based on the strong H1 market share performance at Home Retail and its position at the heart of the recovery in non-food sales.
The broker says pre-tax profits for the full-year could emerge ahead of consensus forecasts of £255 million and it is pushing up its numbers from £250 million to £276 million. With this upgrade Pali International is also pushing up its price target from 290p to 350p, which compares with an underlying share price of 302.5p following the 2% fall yesterday (October 22).
Email this article to a friend
You need to be logged in to use this feature.
Please log in here