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Berenberg hikes target price on Currys
(Sharecast News) - Analysts at Berenberg hiked their target price on retailer Currys from 125.0p to 175.0p on Friday following the group's latest guidance upgrade. Berenberg said Currys' upgrade reaffirmed its view of the group as "a top pick for 2025" and raised its FY25 group adjusted pre-tax profits by roughly 6% to £160.0m, which flows through to outer years.
The German bank, which reiterated its 'buy' rating on the stock, said this means that following the raft of previous upgrades, it has now raised its FY25 profit forecast by a cumulative 30% over the past 12 months.
"This makes Currys a standout performer in the UK consumer sector, particularly when set against: i) other companies that have downgraded their guidance; ii) the ongoing inflationary cost environment; and iii) the emerging tariff war, which should have little impact on Currys," said Berenberg.
"Our raised forecasts and the group's increasingly optimistic outlook drive our DCF-based price target up to 175.0p, which should still prove prudent."
Reporting by Iain Gilbert at Sharecast.com
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