Will DCC (DCC.L) fall beyond the 6420p support level, or will we see a retest of 7496p? (+16%)

• The stock is near support at 6420p, now trading at 6434p (at time of writing).
• Whilst the past does not always repeat itself, the support level has held up well.
• From here, will buying pressure return to drive the price back to 7496p? (+16%)
• As always, be aware of news and events that can change the market’s perception of value – this can lead to key levels being broken.
• Shares -14% from 12-month highs; +3% from 12 month lows.

Latest News

21 Nov:  Goldman Sachs reiterates its neutral rating on DCC (DCC) and reduced the target price to 7500p (from 7900p).

13 Nov:  JP Morgan Cazenove reiterates its overweight rating on DCC (DCC) and reduced the target price to 8312p (from 8640p).

12 Nov:  DCC announced a decline in profit for the half year as revenues fell, due primarily to a challenging economic and background, most notably within the UK.

12 Nov:  DCC announced that its health & beauty solutions unit had puchased Ion Laboratories in a $60m deal, widening its business within the United States.

31 Oct:  Jefferies International reiterates its buy rating on DCC (DCC) and increased the target price to 8320p (from 8120p).

04 Oct:  Berenberg reiterates its buy rating on DCC (DCC) and increased the target price to 8450p (from 8350p).

19 Jul:  RBC Capital Markets reiterates its outperform rating on DCC (DCC) and reduced the target price to 9000p (from 9500p).

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

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