Citi upgrades Kingfisher to 'buy' from 'neutral'

15th Feb 2024 07:22

(Sharecast News) - Citi upgraded B&Q and Castorama owner Kingfisher on Thursday to 'buy' from 'neutral' as it argued the UK housing recovery supports a re-rating.

The bank said Kingfisher looks "well positioned to benefit from a recovery in the UK housing market".

"Ahead of the FY24 results, we think investor sentiment remains cautious, but we may be close to the end of the downgrade cycle, and early signs of UK housing market recovery may drive more constructive investor sentiment from here," it said.

Top Risers

Share	Price	Change
Electric Guitar (ELEG)	0.275	30.95%
Made Tech (MTEC)	22.75	22.97%
Sage Group (SGE)	1,263.50	17.32%
Nostra Terra (NTOG)	0.0375	15.38%
Nexxen Int Ltd (NEXN)	370.00	12.8%

Top Fallers

Share	Price	Change
Proton Mtr Pwr (PPS)	0.15	-64.71%
Mirriad Advertising (MIRI)	0.16	-41.82%
Kore Potash (KP2)	2.80	-34.88%
Quiz (QUIZ)	4.00	-25.23%
Tomco Energy (TOM)	0.04	-20%

Top By Volume

Share	Price	Volume
Tower Resources (TRP)	0.0275	272,363,635
Nativo Resources (NTVO)	0.0023	229,016,751
Mosman Oil Gas (MSMN)	0.04	188,733,899
Nostra Terra (NTOG)	0.0375	110,993,930
UK Oil & Gas (UKOG)	0.0255	91,270,481

All prices are delayed by at least 15 minutes. Share Compare cannot be held responsible for the accuracy of share prices shown on this website, and investors should be aware that share prices can go down as well as up. Share Compare does not offer advice, and is not regulated by the Financial Conduct Authority.