Will B&M European Value Retail S.A. (BME.L) shares break below the 376p support zone, or will it return to highs of 420p (+11%)?

• Currently trading around the 376p support at 377.6p (at time of writing).
• The price has tested this level repeatedly. Traders should be mindful of stop-loss placement.
• Highs of 420p have been seen in the recent past. Will we see this again? (+11%)
• Shares -10% from 12-month highs; +19% from 12 month lows.

Latest News

10 Jan:  B&M, the retailer, posted a marginal improvement in like-for-like sales (UK) as poorer than expected performance in the approach to Christmas held back growth.

07 Jan:  Peel Hunt reiterates its buy rating on B&;M European Value Retail (BME) and cut the target price to 450p (from 500p).

19 Dec:  RBC Capital Markets reiterates its outperform rating on B&M European Value Retail (BME) and increased the target price to 440p (from 420p).

18 Dec:  Peel Hunt reiterates its buy rating on B&M European Value Retail (BME) and increased the target price to 500p (from 450p).

19 Nov:  Citigroup has downgraded its rating on B&M European Value Retail (BME) to neutral (from buy) and cut the target price to 405p  (from 410p).

Source: Bloomberg, Reuters, Alpha Terminal, FT, DJ Newswires

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