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Barclays keeps its “equalweight” rating and raises its target from 270p to 290p following the firm’s plan to open stores in collaboration with Samsung. The broker hopes Carphone will do further deals in the same vein across Europe.
UBS has cut the clothing group from “neutral” to “sell” and lowered its target from €220 to €175 to reflect the waning prospect of majority shareholder Kering buying out other investors. The broker said Puma’s struggle to turn its sales around is also a cause for concern.
Cantor Fitzgerald keeps its “hold” rating and 391p target following Justin King’s retirement announcement. The broker thinks the supermarket’s so-called re-coupe-ration efforts, to be led by new boss Mike Coupe, should focus on selling the new pricing plan to suppliers.