Brokers note - JD Sports
Singer Capital Markets has reduced its recommendation and raised its price target on JD Sports following the group's solid set of interim results.
The broker has upped its target from 555p to 663p on the back of both the strong first half figures - which have been delivered alongside a string of acquisitions and overseas expansion - and an upward move in its share price.
Although this has prompted Singer to increase the target on JD Sports it is downgrading its recommendation from ‘Buy’ to ‘Fair Value’ to reflect its belief that the shares are now fully up with events and any disparity with its peers no longer exists.
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