Kingfisher is an underappreciated long-term recovery story and now a more attractive bet than M&S, according to the analysts at Jefferies.
Shares in the B& Q owner dropped almost 4% to 324.2p after a trading update today, but Jefferies reckons investors are overlooking the ongoing market share gain potential, French margin rebuild, re-leverage optionality and, for the longer[1]term, the attractions of expanding Screwfix across Europe.
The broker's price target is 440p and buy its investment rating.