Financial analysts at Deutsche Bank have downgraded their recommendation on Kesa from ‘Buy’ to ‘Hold’, after concerns were voiced over Comet’s exposure to weakness in the white goods market.
Comet, which recently lost its stature second largest consumer electronics retailer in the UK after Argos deposed it earlier in the year.
Deutsche Bank maintained its target price of 180 pence despite the concerns. The retail group’s shares were up five pence from the start of trading at 165 pence at the time of writing.
Source: Trading Markets