Kingfisher (KGF.L) 21-11-19
Shares in Kingfisher (KGF.L) have fallen dramatically from recent highs of 266.2p. Will it continue, or is this an opportunity to pick up a bargain?
- Now trading at 193.1p (at time of writing). A return to previous highs would represent a rise of 37%.
- The market often over-reacts to bad news. Traders should consider whether it is down for good reason, or is this another over-reaction?
- Shares -27% from 12-month highs; +3% from 12 month lows.
20 Nov: Goldman Sachs reiterates its neutral rating on Kingfisher (KGF) and reduced the target price to 200p (from 212p).
20 Nov: Kingfisher, the owner of B&Q, announced that its Q3 performance had been ‘disappointing’, with lower like-for-like sales, partly due to further weakness in its French business.
04 Nov: Thierry Garnier, CEO, bought 60,000 shares in the firm on the 30th October 2019 at a price of 212.70p. This Director currently has 60,000 shares.
04 Nov: Bernard Bot, Executive Director, bought 50,000 shares in the firm on the 1st November 2019 at a price of 208p. This Director currently has 50,000 shares.
Source: Bloomberg, Reuters, Alpha Terminal, FT, DJ Newswires